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Cluster-based policies have boomed in both developed and developing countries, along with the literature around them. However, there is substantial ambiguity about the concept, about how clusters work, and about the impacts and results of cluster initiatives. This chapter reviews the basic economics of clusters with a view to introducing clarity in definitions, and makes important distinctions between clusters, cluster initiatives, and cluster organizations. More fundamentally, it puts the cluster approach in a new light by linking it with the new literature on experimentalist governance as a model of public policy. It uses two experiences to illustrate the importance of governance mechanisms in clusters and of their alignment with the principles of experimentalist governance: cluster policies in the Autonomous Community of the Basque Country, and the case of the agricultural machinery cluster in Argentina.

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