word

Knowledge spillovers

NOL-ij SPIL-oh-verz

/ˈnɒlɪdʒ ˈspɪloʊvərz/

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Syllable breakdown

knowledgespillovers

Dictionary meaning

The uncompensated flows of knowledge from innovating firms to other firms or individuals; a key concept explaining geographic clustering of innovative activity, since proximity facilitates unintended knowledge transfer.

Examples

Silicon Valley's density of firms accelerates knowledge spillovers that benefit even firms that did not fund the original research.

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