NBER

Wen-Jung Liang

Department of Economics
National Dong Hwa University
Hualien, Taiwan
ROC

E-Mail: wjliang@gms.ndhu.edu.tw
Institutional Affiliation: National Dong Hwa University

NBER Working Papers and Publications

February 2019On the Economics of Science Parks
with Chao-Cheng Mai, Jacques-Fran├žois Thisse, Ping Wang: w25595
Science parks play a growing in knowledge-based economies by accommodating high-tech firms and providing an environment that fosters location-dependent knowledge spillovers and promote R&D investments by firms. Yet, not much is known about the economic conditions under which such entities may form in equilibrium without government interventions. This paper develops a spatial equilibrium model with a competitive final sector and a monopolistic competitive intermediate sector, which allows us to determine necessary and sufficient conditions for a science park to emerge as an equilibrium outcome. We show that strong localized knowledge spillovers, high startup costs, skilled labor abundance, or low commuting costs make intermediate firms more likely to cluster and a science park more likely t...

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