“…Local economic performance is significant for the economic development of a country as a whole. The country's economic development occurs at a local level where interactions between economic agents are particularly dense (Manso, De Matos, & Carvalho, 2015). Combination and integrations of related elements at the local levels in specific ways, formulate the processes of new knowledge generation, innovation, collective learning and, eventually, economic performance based on the unique local features (Amin & Thirf, 1993;Ascani, Crescenzi, & Iammarino, 2012;Cooke, Uranga, & Etxebarria, 1998).…”