Cluster presence and economic performance: a new look based on European data

Cluster presence is significantly and positively related to industry-level wages. This finding underpins the importance of understanding clusters as groups of related industries, not just as the concentration of economic activity in a specific field. The cluster effect remains meaningful and significant once business environment quality, a very powerful driver of performance, is accounted for.

https://rsa.tandfonline.com/doi/full/10.1080/00343404.2020.1792435