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Evolutionary Spatial Economics

Understanding Economic Geography and Location Over Time

Miroslav N. Jovanovic

A crucial question in contemporary economics concerns where economic activities will locate and relocate themselves in the future. This comprehensive, innovative book applies an evolutionary framework to spatial economics, arguing against the prevailing neoclassical equilibrium model, providing important concrete and theoretical insights, and illuminating areas of future enquiry.
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Chapter 13: Supply chain economy

Miroslav N. Jovanovic

Extract

The supply chain economy provides grounds for a non-linear economic leapfrog start in development. Rather than specialising in the whole production procedure, the new model enables specialisation in production segments. All process links are related and must be of an identical high standard. The differential treatment of developing countries is therefore not acceptable in this economic model. Statistics provision and trade policy need to change. Duties must be either eliminated or applied on a value-added basis. A new wave of protectionism is testing the spread of the supply chain economy. Three-dimensional printing may pose a challenge to the length and future spread of value chains.

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