Major Theories and Basic Analytical Tools
Chapter 2: Theoretical evolution of economic development
AbstractIn the search of an explanation for the uneven spatial development issue, regional scientists and geographers have been trying to clarify the role of space and location in economic development and in the changing economic landscape over time. They have developed a range of statistical models and quantitative methods based on the ideas of location early theorists. Since 1980s, the interest in regional development has significantly increased and there have been a number of shifts in the subject with the involvement of institutional economics, economic sociology, cultural theory and most recently evolutionary economics all dealing with different aspects of uneven regional development. This chapter discusses the theoretical evolution of the regional economic development process focusing on the regional endogenous growth theory and its evolution over time; the evolutionary regional economic development process; a new dynamic, evolutionary endogenous regional development model and a proposed extension of it.
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