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Shifts in economic geography and their causes

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  • Anthony J. Venables

Abstract

Recent decades have seen momentous changes in the economic geography of the world. Political transitions and economic liberalization have brought formerly closed countries into the world economy. Such changes have challenged our understanding of the location of economic activity and of the determinants of changes in the pattern of location. ; In a presentation at the Federal Reserve Bank of Kansas City’s 2006 economic symposium, “The New Economic Geography: Effects and Policy Implications,” Venables explored how a new economic geography perspective provides a number of additional insights into existing patterns of activity and into the forces driving future changes. ; His discussion focused on three key propositions. First, proximity to other economic agents—workers, consumers, and firms—is good for productivity. Second, large income disparities are a perfectly natural outcome of a world in which proximity matters. And, third, the effects of increased trade are potentially ambiguous—there are circumstances in which cheaper spatial interactions cause inequality, not convergence.

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Bibliographic Info

Article provided by Federal Reserve Bank of Kansas City in its journal Economic Review.

Volume (Year): (2006)
Issue (Month): Q IV ()
Pages: 61-85

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Handle: RePEc:fip:fedker:y:2006:i:qiv:p:61-85:n:v.91no.4

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Keywords: Economic conditions;

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  1. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," Boston College Working Papers in Economics, Boston College Department of Economics 593, Boston College Department of Economics.
  2. Redding, Stephen J & Venables, Anthony J., 2000. "Economic Geography and International Inequality," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2568, C.E.P.R. Discussion Papers.
  3. Patricia Rice & Tony Venables, 2004. "Spatial determinants of productivity: analysis for the regions of Great Britain," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 2040, London School of Economics and Political Science, LSE Library.
  4. Matouschek, Niko & Robert-Nicoud, Frédéric, 2003. "The Role of Human Capital Investments in the Location Decisions of Firms," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3875, C.E.P.R. Discussion Papers.
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  7. Rosenthal, Stuart S. & Strange, William C., 2004. "Evidence on the nature and sources of agglomeration economies," Handbook of Regional and Urban Economics, Elsevier, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 49, pages 2119-2171 Elsevier.
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  15. Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262561476, December.
  16. Giles Duranton & Diego Puga, 2003. "Micro-Foundations of Urban Agglomeration Economies," NBER Working Papers 9931, National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Dinopoulos, Elias & Segerstrom, Paul, 2010. "Intellectual property rights, multinational firms and economic growth," Journal of Development Economics, Elsevier, Elsevier, vol. 92(1), pages 13-27, May.
  2. Nicholas Oulton, 2007. "Chain Indices of the Cost of Living and the Path-Dependence Problem: An Empirical Solution," CEP Discussion Papers dp0797, Centre for Economic Performance, LSE.
  3. Andreas Breitenfellner & Jesus Crespo Cuaresma & Peter Mooslechner & Doris Ritzberger-Grünwald, 2008. "The Impact of EU Enlargement in 2004 and 2007 on FDI and Migration Flows Gravity Analysis of Factor Mobility," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 101–120.
  4. World Bank, 2014. "Well-being from Work in the Pacific Island Countries," World Bank Publications, The World Bank, number 18642, August.
  5. Roman Römisch, 2012. "Foreign Trade and FDI in the Austrian Regions – A new methodology to estimate regional trade and an analysis of the crisis effects," FIW Research Reports series, FIW IV-001, FIW.
  6. repec:wsr:ecbook:2010:i:iv-001 is not listed on IDEAS
  7. Finn Martensen, 2013. "Globalization, Unemployment, and Product Cycles: Short- and Long-Run Effects," Working Paper Series of the Department of Economics, University of Konstanz, Department of Economics, University of Konstanz 2013-16, Department of Economics, University of Konstanz.

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