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The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. This book explores the relationship between economic conditions, growth, and inequality.
Krugman examines the course of economic geography and development theory to shed light on the nature of economic inquiry.
Since the 1990s, new economic geography has received a lot of attention as mainstream economists such as Krugman and others began to focus on where economic activity occurs and why. Coincidentally, international trade, location theory, and urban economics all appear to be asking the same question: where is economic activity located and why? The challenge is to explain the economic concentration or agglomeration of a large number of activities in certain geographical space. This volume breaks down the various types of cities and evaluates the key factors used to look at cities, such as innovation, green growth, spatial concentration, and smart cities in order to understand how cities work. Why is it that certain cities attract talent? How do some cities become business hubs? Why is it that few cities become increasingly competitive while others remain stagnant? As development specialists are increasingly focusing on how to make cities competitive, this book can serve as a guide for providing key insights, backed by cases on how cities can possibly become more competitive and productive.
This book examines the geography of economic development and variations in the degree to which globalization of production, consumption, and exchange has affected economic growth and regions' development status. As the world's regions become more highly integrated and interdependent through time, it is essential that we gain a basic understanding of the factors and forces which both influence regional economic change and determine future economic development potential. In so doing, we acknowledge that the effectiveness of regional development strategies and policies are, to a large extent, contingent upon our ability to find solutions to a complex set of global development problems.
The spillovers in knowledge among largely college-educated workers were among the key reasons for the impressive degree of economic growth and spread of entrepreneurship in the United States during the 1990s. Prior 'industrial policies' in the 1970s and 1980s did not advance growth because these were based on outmoded large manufacturing models. Zoltan Acs and Catherine Armington use a knowledge spillover theory of entrepreneurship to explain new firm formation rates in regional economies during the 1990s period and beyond. The fastest-growing regions are those that have the highest rates of new firm formation, and which are not dominated by large businesses. The authors of this text also find support for the thesis that knowledge spillovers move across industries and are not confined within a single industry. As a result, they suggest, regional policies to encourage and sustain growth should focus on entrepreneurship among other factors.
Since the 1990s, new economic geography has received a lot of attention as mainstream economists such as Krugman and others began to focus on where economic activity occurs and why. Coincidentally, international trade, location theory, and urban economics all appear to be asking the same question: where is economic activity located and why? The challenge is to explain the economic concentration or agglomeration of a large number of activities in certain geographical space. This volume breaks down the various types of cities and evaluates the key factors used to look at cities, such as innovation, green growth, spatial concentration, and smart cities in order to understand how cities work. Why is it that certain cities attract talent? How do some cities become business hubs? Why is it that few cities become increasingly competitive while others remain stagnant? As development specialists are increasingly focusing on how to make cities competitive, this book can serve as a guide for providing key insights, backed by cases on how cities can possibly become more competitive and productive.
Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
Makes correlations between success and geography, explaining how such rising centers of innovation as San Francisco and Austin are likely to offer influential opportunities and shape the national and global economies in positive or detrimental ways.
The book aims to present “traditional features” of regional science (as geographical concepts and institutions), as well as relatively new topics such as innovation and agglomeration economies. In particular it demonstrates that, contrary to what has been argued by recent economics literature, both geography and institutions (or culture) are relevant for local development. In fact, these phenomena, along with the movement of goods and workers, are among the main reasons for persisting development differentials. These intriguing relationships are at the heart of the analysis presented in this book and form the conceptual basis for a promising institutional approach to economic geography.