“…(i) If the institutional context in terms of practices, regulations, and policies remains largely the same, new learning patterns may apply to those firms that engage in restructuring but exclude other regional actors. 2 This may result in a progressive weakening of the regional learning platform and in a hollowingout process (Bathelt, 2009(Bathelt, , 2013, resulting in slow regional change, limited economic growth, or even stagnation. (ii) If radical changes are implemented within the institutional context by, for example, providing incentives for fundamental organizational shifts and introducing policies targeting new industries and start-up processes in new technology fields, the effects may be more promising, although the overall outcome may still be slow regional change and a bifurcation of the regional economic structure as traditional industries with persistent product and technology structures may be left behind.…”