File Name: path dependence and regional economic evolution .zip
This introductory paper looks at recent debates on the concept of regional economic resilience and focuses on three elements of debate: 1 indicator systems and consideration of the normative content of the concept; 2 the evolutionary dimension of the concept and its inter-disciplinary linkages; 3 the policy dimension and challenges for the development of policy recommendations.
- Path Dependence and the Spatial Economy: A Key Concept in Retrospect and Prospect
- Path dependence
- Path Dependence and Regional Economic Evolution
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Path Dependence and the Spatial Economy: A Key Concept in Retrospect and Prospect
This is a preview of subscription content, log in to check access. Arthur WB Industry location patterns and the importance of history. In: Arthur WB ed Increasing returns and path dependence in the economy.
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However, they have tended to invoke these notions without proper examination of the ongoing discussion and debate devoted to them within evolutionary economics and elsewhere. Our aim in this paper, therefore, is, first, to highlight some of the unresolved issues that surround these concepts, and, second, to explore their usefulness for understanding the evolution of the economic landscape and the process of regional development. The issue of regional path creation is thus equally important, but has been rarely discussed. We conclude that whilst path dependence is an important feature of the economic landscape, the concept requires further elaboration if it is to function as a core notion in an evolutionary economic geography. Most users should sign in with their email address. If you originally registered with a username please use that to sign in. To purchase short term access, please sign in to your Oxford Academic account above.
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Request PDF | Path dependence and regional economic evolution | In recent years, economic geographers have seized on the concepts of `path dependence'.
Path Dependence and Regional Economic Evolution
However, they have tended to invoke these notions without proper examination of the ongoing discussion and debate devoted to them within evolutionary economics and elsewhere. Our aim in this paper, therefore, is, first, to highlight some of the unresolved issues that surround these concepts, and, second, to explore their usefulness for understanding the evolution of the economic landscape and the process of regional development. The issue of regional path creation is thus equally important, but has been rarely discussed. We conclude that whilst path dependence is an important feature of the economic landscape, the concept requires further elaboration if it is to function as a core notion in an evolutionary economic geography.
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Abstract: The diversification of production and trade is considered almost unanimously a fundamental policy goal, particularly for developing economies whose export baskets are heavily concentrated on a few products. In what direction trade diversification ought to take place is, however, subject to fierce debate. It argues that the endowment of production capabilities technologies, production factors, institutions etc. Contributions along such line argue that defying the initial comparative advantage can be a risky policy decision with high probability of failure. The main objective of this contribution is to use a novel methodology to investigate whether the patterns of diversification of a sample of countries over the period conform or not to the prediction of the PS framework. The evolutionary economic geography indicates that regional industrial development is path dependent. The path dependence approach however ignores the external factors, which may create new paths of regional development.
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Path dependence is when the decisions presented to people are dependent on previous decisions or experiences made in the past. Path Dependence exists when a feature of the economy institution, technical standard, pattern of economic development etc. In economics and the social sciences , path dependence refers to either the outcomes at a single point in time, or to long-run equilibria of a process.
The notion of path dependence has become so popular that it is almost commonplace to describe the development of institutions and organizations as being path dependent. With its increasing popularity, however, the notion of path dependence has progressively lost a specific meaning. Most often it is merely used as a metaphor accentuating that history matters when explaining cultural artefacts. This is all the more regrettable as problems of path dependence seem to trouble an increasing number of institutions and organizations.
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