 The Economics of Trade, Location and Context: Another ‘Great Transformation?Michael Storper ()
Post-Print from HAL Abstract: How should we think of the role of regions in relationship to the global economy? Theory has surprising gaps when it comes to building a unified vision of these two scales of development. Two contributions to such a vision are proposed in this paper. First, the relationship between geographical concentration and the regional economic specialization it underpins, and globalization, should be theorized as a dynamic process. Standard location and trade theory is not adequate for this task; instead, the dynamical relationship can be captured through growth theory. But this in turn requires correcting growth theory to separate its local and its global components, respectively Marshall-Arrow from Romer externalities. Second, we consider the missing element in all theories of geographical concentration and locally-specialized development, an element labeled "context" here. A theory of context in turn raises important new questions about the dynamic welfare and developmental effects of contemporary processes of fragmenting and re-locating production at a global scale. Date: 2008-03-01 Published in Roepke Lecture in Economic Geography, Association of American Geographers (AAG) Annual Meeting, Mar 2008, Boston, United States There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03621194 Access Statistics for this paper More papers in Post-Print from HAL |
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