Handbook of Regional Growth and Development Theories
Show Less

Handbook of Regional Growth and Development Theories

Revised and Extended Second Edition

Edited by Roberta Capello and Peter Nijkamp

Regional economics – an established discipline for several decades – has undergone a period of rapid change in the last ten years resulting in the emergence of several new perspectives. At the same time the methodology of regional economics has also experienced some surprising developments. This fully revised and updated Handbook brings together contributions looking at new pathways in regional economics, written by many well-known international scholars. The aim is to present the most cutting-edge theories explaining regional growth and local development. The authors highlight the recent advances in theories, the normative potentialities of these theories and the cross-fertilization of ideas between regional and mainstream economists. It will be an essential source of reference and information for both scholars and students in the field.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 3: Location/allocation of regional growth

Gunther Maier and Michaela Trippl

Abstract

This chapter provides a brief review of different theoretical approaches and engages in a critical discussion of how regional growth theories contribute to our understanding of the spatial distribution of economic activities and the long-term growth processes of the regional economy. We contrast the neoclassical model of regional growth, endogenous growth theory and new economic geography. The latter two theories deviate from traditional neoclassical thinking in fundamental ways, suggesting that externalities should be seen as an important element of the economy. The chapter shows that the introduction of externalities leads to a different view of the economy, drawing attention to phenomena that are unknown to the neoclassical model, namely, multiple equilibria, path dependence and lock-in, sensitivity to initial conditions, small disturbances and indirect effects, sensitivity to marginal changes in parameters, chaotic behaviour and convergence toward strange attractors.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.