How the Economy Organizes Itself in Space: A Survey of the New Economic Geography
As the example of Silicon Valley makes clear, the economic analysis of location--the geography of the economy--is the subfield of economics to which the typical buzzwords of complexity apply most obviously and dramatically. The spatial economy is, self-evidently, a self-organizing system characterized by path dependence; it is a domain in which the interaction of individual decisions produces unexpected emergent behavior at the aggregate level; its dynamic landscapes are typically rugged, and the evolution of the spatial economy typically involves "punctuated equilibria," in which gradual change in the driving variables leads to occasional discontinuous change in the resulting behavior. And in economic geography, as in many physical sciences, there are puzzling empirical regularities--like the startlingly simple law that describes city sizes--which seem to imply higher level principles at work. There is a long intellectual tradition in economic geography (or rather several separate but convergent traditions). The last few years have, however, seen a considerable acceleration of work, especially in the development of theoretical models of the emergence of spatial structure. This paper is a brief but I hope suggestive survey of this work, intended to convey a flavor of the exciting ideas being developed without going into technical detail. The paper is in five parts. I begin with two very simple motivating models that illustrate why economic geography so naturally leads to the typical "complexity" themes. Each of the next three parts then describes a particular major line of research. A final part discusses implications and directions for future work.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Apr 1996|
|Contact details of provider:|| Postal: 1399 Hyde Park Road, Santa Fe, New Mexico 87501|
Web page: http://www.santafe.edu/sfi/publications/working-papers.html
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wop:safiwp:96-04-021. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel)
If references are entirely missing, you can add them using this form.