We measure tradable industries using data on greenfield foreign direct investment, which is inextricably bound up with traded industry clusters, and the productivity differential (measured as output per worker) between a metro area’s traded sector and that traded sector nationwide. These industries are typically anchored by globally engaged firms, which have valuable spillovers for local economies. Tradable Clusters: Tradable industries are a critical driver of prosperity and competitiveness.To develop the typology, we utilized a series of statistical techniques to group metropolitan economies with their closest peers based on a set of 35 stock variables that measure metropolitan-level economic characteristics, industrial structure, and key competitiveness factors:
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