The response of much work from economic geographers is to go in the opposite direction from the spatial economists, emphasizing that spatial economic development is the result of unique, context-driven, place-specific combinations of forces that, as a consequence, can neither be modelled nor even subject to large-scale causal inquiry.
At best, they can sometimes be captured in descriptive typologies. This extreme has its own weaknesses, to which we now turn, but we shall also observe that EG has developed some key insights into spatial development that could fruitfully be absorbed into a revitalized NEG framework. EG refers here to a diverse body of work on spatial economics, from geographers, empirically-minded regional economists and certain branches of innovation and organization studies.
Since the s, EG scholars have made substantial progress in understanding how agglomerations function. They have investigated their local labour markets, the geography of technological spillovers, and regional contexts of formal rules and informal norms and conventions.
All these appear to shape the ways that agglomerations function and their ongoing development, decline or resilience in the face of challenge. Within this field, economic geographers have made considerable efforts—paralleling those of the economists—to see local and regional processes in the wider context of open economy forces. This has spurred considerable work on local versus long-distance relationships mirroring the concern with trade costs in the other literature , and how the division of labour and fragmentation of production systems develops.
Lower transport costs could lead to spatial concentration, not just in the simple case of serving big markets from large-scale firms and plants, but through more subtle dynamic reorganizations of sectors, such that there is an endogenous component to resulting unit trade costs. In this view, lower trade costs seem to heighten competition in far-flung markets eliminating old spatial monopoly effects and lead firms to speed up the introduction of new products, which in turn introduces new forms of complexity and uncertainty into their strategies, hence raising unit trade costs upstream, as they fragment production systems to be more flexible and reactive, and this in turn leads to spatial concentration Duranton and Storper, Theories of spatial economic development face an additional challenge: how to characterize the pattern of growth and decline of places at a high-enough level of resolution.
This task is not the same as understanding the average characteristics of growing and declining places, or the average trajectory of agglomeration or dispersion. These differences reflect conflicting underlying convictions about spatial-economic development along the lines I have been tracing.
In the NEG, the new local equilibria around agglomerations can temporarily involve some fairly important spatial price differentials between dense and big regions and less dense or small regions.
Unlike the out-of-equilibrium view explained above, however, such differences must strictly reflect spatial productivity differentials, not alternative spatially-differentiated auctioning of factors with rents and the accumulation of endowments and path dependencies from them. For most other economists, the noise is simply dealt with by introducing controls. If such existing activities are also institutionally-organized, they may even hinder new development by monopolizing resources, attention and skills Chinitz, Such regions may not be able to capture new industries in spite of the greater size of their home markets as compared to alternative less-developed locations.
Evolutionary economic geographers argue that in well-developed regions, the previously-existing routines and competences of firms, labour and institutions shape their ability to capture new activities, what kinds of innovations they generate, and what kinds of blockages to resilience they may exhibit Boschma and Frenken, ; Boschma and Martin, Silicon Valley itself had no strongly identifiable technological precursors of the IT industry.
In the developing world, the rapid ascension up the technology ladder by South Korea cannot be explained as an evolutionary process of related variety; the Koreans, like Silicon Valley, pulled off radical spatial and economic ruptures with the past.
This is also what happened when the US aerospace industry located in Los Angeles in the s, or the film industry did in the s. There are additional examples in 19th century Europe. Geographers have also actively explored institutionalist approaches to the origins of agglomerations, the spatial sorting of economic activity, and the matching of regions to activities Farole et al.
If such things as: technology, trade costs, agglomeration and migration give rise to broad tendencies in the sorting of activities to places, they are nonetheless potentiated or blocked by regional social forces, which are also unevenly distributed among places.
There is abundant recent literature on such phenomena, at the borderline of geography, sociology and management studies Saxenian, ; Powell and Sandholtz, ; Powell et al.
Another scale is that of the region—its formal public-sector institutions, the institutions of economic life that cross-over sectors, and the institutions of civic life that involve actors from many different sectors and interact with the economic and public-sector institutions. Some promising cases studies have been carried out along these lines Safford, Others have tried to theorize such institutions, their micro-economic properties, pathways of change and relationship to regional development and resilience Storper, , ; Rodriguez-Pose and Storper, In order to do this, it may be time to revisit some of the basic tasks of the field.
What are the most fundamental behaviours and processes that could be considered building blocks of a renewed framework? Research on economic growth has long struggled with the relationship between structures and events. Formal economic models, as well as inductively empirical approaches, are structural, in the sense that they seek the parameters that are associated with growth across a wide panel of regions.
Often, the latter are treated as exogenous shocks in formal models, but if such events are frequent and important shapers of growth, then much that is essential to explanation is being arbitrary excluded from the construction of the framework. This ambiguity is particularly potent with respect to agglomeration-generated specialization. Theories of agglomeration show that localization economies have a structural character, in that once started, they can be strongly self-reinforcing; but as noted, explaining their origins may require recourse to one-off events as well as structural factors.
Two future strategies to analyse the causes of growth of regions can now be suggested. The first would consist of structured, in-depth comparisons of the growth trajectories of different areas, using a set of standardized categories such as sorting, selecting and shaping. A second approach would require large-scale data. As noted, the problem with most existing econometric analysis of urban and regional growth is that it may identify certain structural determinants of growth, but does so in a time-invariant manner, and has difficulty separating fixed effects from the forces that shape pathways and select cities into different growth experiences.
An ideal way out of this dilemma would be to be able to estimate the sources for growth over a wide panel of cities for different time periods. High quality, sufficiently disaggregated data on the nature of specialization, human capital and institutions would be required, as well as those for a wide set of controls.
Once the structural determinants for different periods are estimated and compared, then a further stage of research would consist in estimating them for individual city-regions.
For example, having data on the establishment and lock-in of localizations, or on other time-dependent shocks such as technologies that shock trade costs of existing sectors, or of changes in institutions that alter comparative advantages, and then estimating their effects jointly with structural determinants over different time periods would get us much closer to measuring sequential possibly path-determining forces and structural determinants in a single model.
Though the challenge is daunting, only an approach that melds structure, events and processes, and hence can tackle directions of causality, is likely to advance us significantly in understanding the complex problem of differential regional specialization and development and the large-scale transformation of urban and regional systems. Google Scholar.
Towards an evolutionary economic geography Journal of Economic Geography 6 — Google Preview. Duranton G Rodriguez-Pose A When economists and geographers collide, or the tale of the lions and the butterflies Journal of Economic Geography 5 — Duranton G Storper M Rising trade costs? Agglomeration and trade with endogenous transaction costs Canadian Journal of Economics 41 — Krugman P The new economic geography, now middle-aged.
Martin R Critical survey. Some critical reflections Cambridge Journal of Economics 23 65 — Muth R F Migration: chicken or egg? Southern Economic Journal 37 — Stanford: Stanford University, forthcoming. Stanford: Stanford University Press, forthcoming. On the social foundations of the institutional change and its economic effects Economic Geography 82 1 — Scott A J Storper M High technology industry and regional development: a theoretical critique and reconstruction International Social Science Journal — Storper M Society, community and economic development Studies in Comparative International Development 39 30 — Storper M Agglomeration, trade and spatial development: bringing dynamics back in Journal of Regional Science 50 — Oxford University Press is a department of the University of Oxford.
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Why focus on growth and change? It wasn't far, so we kept on, and presently it develop ed that we had accidentally come upon old Piegan Smith. In a general way the fronds are best collected during the summer and autumn, when they will, of course, be well develop ed. There was a while when I develop ed a marvelous capacity for dodging invitations to Fort Walsh. Nothing was out of the ordinary except that the Professor develop ed an odd trick of continually glancing at his right hand.
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Develop and improve products. List of Partners vendors. A developed economy is typically characteristic of a developed country with a relatively high level of economic growth and security. Standard criteria for evaluating a country's level of development are income per capita or per capita gross domestic product, the level of industrialization, the general standard of living , and the amount of technological infrastructure.
Noneconomic factors, such as the human development index HDI , which quantifies a country's levels of education, literacy, and health into a single figure, can also be used to evaluate an economy or the degree of development.
The most common metric used to determine if an economy is developed or developing is per capita gross domestic product GDP , although no strict level exists for an economy to be considered either developing or developed.
The U. For countries that are difficult to categorize, economists turn to other factors to determine development status. Standard-of-living measures, such as the infant mortality rate and life expectancy , are useful although there are no set boundaries for these measures either.
However, most developed economies suffer fewer than 10 infant deaths per 1, live births, and their citizens live to be 75 or older on average. A high per capita GDP alone does not confer developed economy status without other factors.
Examples of countries with developed economies include the United States, Canada, and most of western Europe, including the United Kingdom and France. The HDI looks at three standards of living criteria—literacy rates, access to education, and access to health care—and quantifies this data into a standardized figure between 0 and 1.
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