Location/allocation of regional growth

Gunther Maier, Michaela Trippl

Veröffentlichungen: Beitrag in BuchBeitrag in Buch/SammelbandPeer Reviewed

Abstract

This chapter provides a brief review of different theoretical approaches and engages in a critical discussion of how regional growth theories contribute to our understanding of the spatial distribution of economic activities and the long-term growth processes of the regional economy. We contrast the neoclassical model of regional growth, endogenous growth theory and new economic geography. The latter two theories deviate from traditional neoclassical thinking in fundamental ways, suggesting that externalities should be seen as an important element of the economy. The chapter shows that the introduction of externalities leads to a different view of the economy, drawing attention to phenomena that are unknown to the neoclassical model, namely, multiple equilibria, path dependence and lock-in, sensitivity to initial conditions, small disturbances and indirect effects, sensitivity to marginal changes in parameters, chaotic behaviour and convergence toward strange attractors.
OriginalspracheEnglisch
TitelHandbook of Regional Growth and Development Theories
UntertitelRevised and Extended Second Edition
Redakteure*innenR. Capello, P. Nijkamp
ErscheinungsortCheltenham
Herausgeber (Verlag)Edward Elgar Publishing
Seiten48-61
Seitenumfang14
ISBN (elektronisch)9781788970020
ISBN (Print)9781788970013
DOIs
PublikationsstatusVeröffentlicht - 2019

ÖFOS 2012

  • 507026 Wirtschaftsgeographie
  • 507014 Regionalentwicklung

Zitationsweisen