A new evolutionary perspective on institutional complementarities and regional development

Ron Boschma ()

No 2514, Papers in Evolutionary Economic Geography (PEEG) from Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography

Abstract: The paper reviews how the concept of institutional complementarities has been approached in the Varieties of Capitalism and Policy Mix literatures. Based on a critical review, we propose instead an evolutionary framework to analyze institutional complementarities that is inspired by the principle of relatedness. We discuss promising future applications in economic geography, such as how complementarities across institutions may promote regional diversification in regions, how this institutional complementarity framework may shed light on the question what is feasible when implementing institutional change in specific territorial contexts, and how it may contribute to understand better how regional innovation policy may become effective in particular institutional contexts.

Keywords: institutions; institutional complementarities; institutional relatedness; institutional change; institutional space; varieties of capitalism; policy mix; policy space; regional diversification; Evolutionary Economic Geography (search for similar items in EconPapers)
JEL-codes: B15 B52 P51 R11 R58 (search for similar items in EconPapers)
Date: 2025-05, Revised 2025-05
New Economics Papers: this item is included in nep-evo, nep-geo, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:egu:wpaper:2514

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