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Space: The Final Frontier

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  • Paul Krugman

Abstract

Traditionally, until the early 1990s, spatial economics -- the study of where economic activity takes place and why -- was pretty much neglected. Even now not one of the best-selling introductory textbooks in economics contains a single index entry for "location," "space," or "regions." In the last six or seven years, however, interest in spatial economics has surged. In this article I will try to summarize briefly the reasons for that surge; the key elements of the so-called "new economic geography;" the current state of research; and the prospects and difficulties facing this subfield of economics.

Suggested Citation

  • Paul Krugman, 1998. "Space: The Final Frontier," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 161-174, Spring.
  • Handle: RePEc:aea:jecper:v:12:y:1998:i:2:p:161-74
    Note: DOI: 10.1257/jep.12.2.161
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.12.2.161
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    References listed on IDEAS

    as
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    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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