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Space, growth and technology: an integrated dynamic approach

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Author Info
Orlando Gomes

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Abstract

Purpose – The purpose of the paper is to present an integrated approach concerning intertemporal choices and the location of economic activity under a simple endogenous growth model. The idea is that time analysis concerning the choices about present and future consumption and the choices on the allocation of scientific resources should be combined with a space analysis regarding the dissemination of economic activity through geographical locations. Design/methodology/approach – Two optimal control problems are considered. These relate to a standard utility maximization set-up, in which spatial considerations are incorporated, and to a problem of allocation of scientific/technological resources. Steady states and transitional dynamics are addressed. Findings – It was found that the long-run steady state does not have to be a state of unchangeable geography – consumption, production conditions and technological progress determine not only long-term growth but also the long-term tendency for the economy to geographically concentrate or disperse. Research limitations/implications – In its essence, the model is just a conventional Ramsey growth model, sophisticated in order to include endogenous location decisions and endogenous technology choices. Further insights can be gained by readdressing the model (e.g. by assuming a monopolistic competition environment instead of a purely competitive set-up). Originality/value – The determinants of growth are, on the one hand, the decisions about how to allocate technological resources and, on the other hand, the strength with which productive activities can agglomerate in order to generate increasing returns to scale.

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Publisher Info
Article provided by Emerald Group Publishing in its journal Studies in Economics and Finance.

Volume (Year): 24 (2007)
Issue (Month): 4 (September)
Pages: 248-265
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Handle: RePEc:eme:sefpps:v:24:y:2007:i:4:p:248-265

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Related research
Keywords: Economic growth; Economic resources; Economic returns; Optimal control;

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References listed on IDEAS
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  1. Danny Quah, 2002. "Spatial Agglomeration Dynamics," American Economic Review, American Economic Association, vol. 92(2), pages 247-252, May. [Downloadable!]
    Other versions:
  2. P. A. Samuelson, 1970. "On the Trail of Conventional Beliefs About the Transfer Problem," Working papers 54, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Orlando Gomes, 2004. "The Optimal Control of Technology Choices," GE, Growth, Math methods 0409008, EconWPA. [Downloadable!]
  4. Krugman, Paul R & Venables, Anthony J, 1995. "Globalization and the Inequality of Nations," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 857-80, November. [Downloadable!] (restricted)
    Other versions:
  5. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December. [Downloadable!] (restricted)
  6. Anthony J. Venables, 2001. "Geography and International Inequalities: the Impact of New Technologies," CEP Discussion Papers dp0507, Centre for Economic Performance, LSE. [Downloadable!]
  7. Adam B. Jaffe & Manuel Trajtenberg, 2005. "Patents, Citations, and Innovations: A Window on the Knowledge Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 026260065x.
  8. Richard R. Nelson & Edmond S. Phelps, 1965. "Investment in Humans, Technological Diffusion and Economic Growth," Cowles Foundation Discussion Papers 189, Cowles Foundation, Yale University. [Downloadable!]
  9. Ottaviano, Gianmarco I. P., 2001. "Monopolistic competition, trade, and endogenous spatial fluctuations," Regional Science and Urban Economics, Elsevier, vol. 31(1), pages 51-77, February. [Downloadable!] (restricted)
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  10. Baldwin, Richard E., 1999. "Agglomeration and endogenous capital," European Economic Review, Elsevier, vol. 43(2), pages 253-280, February. [Downloadable!] (restricted)
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  11. Charles I. Jones, . "Population and Ideas: A Theory of Endogenous Growth," Working Papers 97018, Stanford University, Department of Economics.
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  12. Baldwin, Richard & Martin, Philippe & Ottaviano, Gianmarco Ireo Paolo, 1998. "Global Income Divergence, Trade and Industrialization: The Geography of Growth Take-Offs," CEPR Discussion Papers 1803, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  13. Rikard Forslid & Gianmarco I.P. Ottaviano, 2003. "An analytically solvable core-periphery model," Journal of Economic Geography, Oxford University Press, vol. 3(3), pages 229-240, July.
  14. Jonathan Eaton & Samuel Kortum, 2002. "Technology, Geography, and Trade," Econometrica, Econometric Society, vol. 70(5), pages 1741-1779, September. [Downloadable!] (restricted)
  15. Danny Quah, 2002. "Spatial Agglomeration Dynamics," CEP Discussion Papers dp0521, Centre for Economic Performance, LSE. [Downloadable!]
  16. Baldwin, Richard & Forslid, Rikard, 1997. "The Core-Periphery Model and Endogenous Growth," CEPR Discussion Papers 1749, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  17. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March. [Downloadable!] (restricted)
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  18. Martin, Philippe & I.P. Ottaviano, Gianmarco, 1999. "Growing locations: Industry location in a model of endogenous growth," European Economic Review, Elsevier, vol. 43(2), pages 281-302, February. [Downloadable!] (restricted)
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  19. Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262561476.
  20. Venables, Anthony J, 1996. "Equilibrium Locations of Vertically Linked Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(2), pages 341-59, May.
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  21. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-99, June. [Downloadable!] (restricted)
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  22. Caballe, Jordi & Santos, Manuel S, 1993. "On Endogenous Growth with Physical and Human Capital," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1042-67, December. [Downloadable!] (restricted)
  23. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
    Other versions:
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