Philip Cooke and Kevin Morgan explore key social and spatial aspects of corporate reorganization in the context of heightened global competition. Their special focus is upon how firms associate with regional milieux. Innovation is a key factor in corporate and regional economic performance and the authors show how interactive innovation, based on collective learning and associative practices, is becoming increasingly significant. Detailed studies of inter-firm and firm-agency interactions are presented for four European regions: Baden-Wurttemberg and Emilia-Romagna as advanced regional economies; Wales and the Basque Country as mature industrial regions seeking a new economic vocation. The book is theoretically informed by an evolutionary economics perspective and draws policy conclusions which highlight the importance of decentralized industrial policy for both corporate and regional economic development. It concludes with the idea that the associational economy may be the `third way' between state and market co-ordination of modern economies.
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