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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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  8. David L. Hummels & Georg Schaur, 2013. "Time as a Trade Barrier," American Economic Review, American Economic Association, vol. 103(7), pages 2935-59, December.
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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, vol. 92(1), pages 13-27, May.
  2. repec:wsr:ecbook:2010:i:iv-001 is not listed on IDEAS
  3. 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 IV-001, FIW.
  4. 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.
  5. Oulton, Nicholas, 2008. "Chain indices of the cost-of-living and the path-dependence problem: An empirical solution," Journal of Econometrics, Elsevier, vol. 144(1), pages 306-324, May.
  6. Finn Martensen, 2013. "Globalization, Unemployment, and Product Cycles: Short- and Long-Run Effects," Working Paper Series of the Department of Economics, University of Konstanz 2013-16, Department of Economics, University of Konstanz.

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