Spontaneous Orders and the Emergence of Economically Powerful Cities
AbstractThe importance of cities to economic dynamism and growth cannot be emphasized enough. It is crucial for our understanding of what drives economic growth to understand how cities emerge, develop and prosper. This paper investigates the emergence of cities from a spontaneous order and urban economics perspective. The analysis focus on agglomeration effects, externalities and regional clustering as explanations of cities and regional growth. Factors such as local knowledge and dispersion of knowledge are identified as important growth factors. With origin in Hayek’s famous citation “particular circumstances of time and place” these factors are thoroughly discussed in a spontaneous order framework.
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Bibliographic InfoPaper provided by Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies in its series Working Paper Series in Economics and Institutions of Innovation with number 310.
Length: 23 pages
Date of creation: 24 May 2013
Date of revision:
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Spontaneous orders; cities; urban economics; dynamic externalities; knowledge-flows;
Find related papers by JEL classification:
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-09 (All new papers)
- NEP-GEO-2013-06-09 (Economic Geography)
- NEP-URE-2013-06-09 (Urban & Real Estate Economics)
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