The article analyzes the existing definitions and approaches to the essence of the concepts of economic cluster and cluster policy. In the twentieth century, the scientists and modern scientists studied clusters, cluster policy and cluster concepts. The authors point out that the representative of the Harvard Business School M. Porter was the first to introduce the definition of the term of cluster to the economy. S. Rosenfeld opines that the creation of clusters is the foundation of the modern economic development and strategy of the less developed regions. L. Young, the renowned scientist, defined the cluster as a group of companies located close to each other and located near the major universities. The cluster possesses the structure of the small private companies characterized by a highly-qualified staff. The Russian scientists A.G. Granberg, M. Voynarenko, M. Galushkina, A. Voronov, V.K. Scherbin, S.A. Pomitov, and G.A. Yashevoy made a significant contribution to the theory of economic clusters. Thus, Voynarenko M. while defining the term of clusters used the concept of "5 - I": Integration, Initiative, Interest, Innovation, and Information. These factors are the main conditions for the effective functioning of clusters. Yashevoy G.A viewed the cluster as a network of companies, which complementarily and geographically linked to each other by the relations of cooperation (including the specialized suppliers, services, as well as producers and consumers), which are united around a research and education center. Moreover, the afore-referenced network organization is in partnership with local institutions and government and regional authorities, which ensure the competitiveness of enterprises, regions and national economy as a whole. The article considers the basic characteristics and types of clusters and cluster policy. The authors provide an expert analysis of the definitions, and on its basis submit the improved and refined interpretations of the concepts of economic cluster and cluster policy. The paper points out that the industry classification discriminates the following main types of clusters: discrete, process, innovative, creative, travel and transportation, and logistics ones. The cluster policy is positioned as the State policy, which includes a range of measures and activities aimed at the development of clusters, an increase of the competitiveness of clusters and territories, innovation development, the development of cooperation ties and economic development of the territory as a whole.
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