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Complexity and geographical economics [electronic resource] : topics and tools / Pasquale Commendatore, Saime Kayam, Ingrid Kubin, editors.

9783319128054 electronic book
3319128051 electronic book
9783319128047

Cham : Springer, 2015.

English

1 online resource (xiv, 377 pages) : illustrations.

10.1007/978-3-319-12805-4 doi

HF1025

330.9

The uneven geographical distribution of economic activities is a huge challenge worldwide and also for the European Union. In Krugmanℓ́ℓs New Economic Geography economic systems have a simple spatial structure. This book shows that more sophisticated models should visualise the EU as an evolving trade network with a specific topology and different aggregation levels. At the highest level, economic geography models give a bird eyeℓ́ℓs view of spatial dynamics. At a medium level, institutions shape the economy and the structure of (financial and labour) markets. At the lowest level, individual decisions interact with the economic, social and institutional environment; the focus is on firmsℓ́ℓ decision on location and innovation. Such multilevel models exhibit complex dynamic patterns ℓ́ℓ path dependence, cumulative causation, hysteresis ℓ́ℓ on a network structure; and specific analytic tools are necessary for studying strategic interaction, heterogeneity and nonlinearities.

Includes bibliographical references.

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Online resource; title from PDF title page (SpringerLink, viewed February 26, 2015).

Dynamic modeling and econometrics in economics and finance ; volume 19.

Print version: 9783319128047

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