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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.
The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future.
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.
Abstract: We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions trumps' everything else. Once institutions are controlled for, measures of geography have at best weak direct effects on incomes, although they have a strong indirect effect by influencing the quality of institutions. Similarly, once institutions are controlled for, trade is almost always insignificant, and often enters the income equation with the wrong' (i.e., negative) sign, although trade too has a positive effect on institutional quality. We relate our results to recent literature, and where differences exist, trace their origins to choices on samples, specification, and instrumentation.
Seminar paper from the year 2015 in the subject Business economics - Economic Policy, grade: 1,7, Technical University of Darmstadt (Fachgebiet Internationale Wirtschaft), language: English, abstract: Rodrik, Subramanian, and Trebbi (2002) contribute to the discussion on the impact of geography, institutions and international trade on cross-national differences in income levels. They find that only institutions exert a significant direct impact on incomes. Meanwhile, international trade has no direct effect and geography has at best weak direct effects on incomes. Examining its empirical framework, I find that the way the study measures geography is inadequate and that the framework therefore does not treat the three “deeper determinants” equally in the sense of giving the geography-hypothesis a smaller chance to prevail. Based on this finding, the underlying structure is adjusted and developed further to provide an improved basis for future analyses.
Drawing on the theoretical resources of institutional economics, The New Industrial Geography opens new perspectives in economic geography. In its focus on historical and geographical context, institutional embeddedness, and tacit rules and formal regulations, institutional economics is shown to be the perfect basis for understanding the profound economic and geographical changes of the last two decades, and on which also to build a new kind of industrial geography. Issues covered include: the retheorization of the geography of industrial districts; the analysis of institutional 'thickness', and the economic-geographical effects of institutional rigidity and sclerosis; the economic-geographical consequences of new regulatory bodies and policies; and the geographically situated character of institutions and regulatory frameworks, and the effects of separating them from their originating context; the development of new strategies for achieving more equitable forms of regional development.
As political, economic, and environmental issues increasingly spread across the globe, the science of geography is being rediscovered by scientists, policymakers, and educators alike. Geography has been made a core subject in U.S. schools, and scientists from a variety of disciplines are using analytical tools originally developed by geographers. Rediscovering Geography presents a broad overview of geography's renewed importance in a changing world. Through discussions and highlighted case studies, this book illustrates geography's impact on international trade, environmental change, population growth, information infrastructure, the condition of cities, the spread of AIDS, and much more. The committee examines some of the more significant tools for data collection, storage, analysis, and display, with examples of major contributions made by geographers. Rediscovering Geography provides a blueprint for the future of the discipline, recommending how to strengthen its intellectual and institutional foundation and meet the demand for geographic expertise among professionals and the public.
An increasing amount of work in many aspects of human geography is concerned with the effects caused by different types of institutions. Included in this book, originally published in 1982, is material from Britain, Ameican and Europe and it is shown that differences in institutional powers in these places, especially those vested in the State, relate directly to their own particular urban and environmental policies and problems. Each chapter, written by an expert on this subject, considers key institutions in a number of fields and draws conclusions about how this ‘institutionalist’ approach can be used by geographers.
This work investigates the roots of economic development. The debate about the predominance of institutions over geography is far from reaching a firm conclusion, and this analysis highlights the main difficulties that should be addressed in order to find out the real determinants of long-run economic growth. I argue that the institutional view is not as strong as it may appear: different specifications and different institutional indicators undermine the exclusive importance of institutions. Geographical factors, related to the health and sanitary conditions and to the accessibility to the sea of a country, play a role in economic development, that goes beyond the way in which they shape institutions. The empirical evidence implies that the development policies should be directed to improving not only the quality of governance, but also the sanitary conditions in the least developed countries. However, since there is a lack of accurate indicators and difficult problems of endogeneity, more reliable instruments and indicators of geography and institutions are needed in order to achieve a firm conclusion.