Spatial economics

Stephen Redding

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper reviews recent research in spatial economics. The field of spatial economics is concerned with the determinants and effects of the location of economic activity in geographic space. It analyses how geographical location shapes the economic activities per-formed by agents, their interactions with one another, their welfare, and the effects of public policy interventions. Research in this area has benefited from the simultaneous development of new theoretical techniques, new sources of geographic information systems (GIS) data, rapid advances in computing power, machine learning and artificial intelligence, and renewed public policy interest in infrastructure and appropriate policies towards places 'left-behind' by globalization and technology. Among the insights from this research are the role of goods and commuting market access in determining location choices; the conditions under which the location of economic activity is characterized by multiple equilibria; the circumstances under which temporary shocks can have permanent effects (hysteresis or path dependence); the heterogeneous and persistent impact of local shocks; the magnitude and spatial decay of agglomeration economics; and the role of both agglomeration forces and endogenous changes in land use in shaping the impact of transport infrastructure improvements.

Keywords: cities; economic geography; regions; spatial economics (search for similar items in EconPapers)
JEL-codes: F15 R10 R12 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2024-11-06
New Economics Papers: this item is included in nep-geo
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http://eprints.lse.ac.uk/126845/ Open access version. (application/pdf)

Related works:
Working Paper: Spatial economics (2024)
Working Paper: Spatial Economics (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:126845

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