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SPATIAL ASPECTS OF ECONOMIC GROWTH REVIEW OF THEORETICAL LITERATURE
This
paper addresses the spatial aspects of economic growth at regional level. We
review the theoretical and empirical literature on economic growth and new
economic geography (NEG) paying particular attention to dynamic NEG models.
Both
economic growth and location of economic activity are endogenous. Complex
interdependencies exist between them and they are only to a limited extent included
in the current theoretical models.
A
review of the literature leads to the conclusion on the existence of a negative
relationship between the rate of economic growth at the national level and the
degree of differentiation at regional level. Thus, equalization-oriented policy
aimed at equilibrating development opportunities may lead to a general slowdown.
Emerging theoretical models a la Melitz in the heterogeneous firms models take
into account the stochastic distribution of productivity at the firm level lead
to interesting conclusions, but at the same time lose clarity and explicitness
of generated recommendations.
The ideal theoretical model adapted to Polish conditions should be of a dynamic and multi-sector, multi-regional type with core-periphery setup - allowing for hierarchical policentricity and endogenous economic growth (broadly defined capital accumulation), allowing for the flow of goods and factors of production, taking into account imperfect diffusion of knowledge (localized diffusion) . The ultimate version of the model should envisaged random variation in productivity of firms and consumer preferences. At the same time it would not eliminate the problem of the black-boxes. Due to the complexity of the model does not exist, what is more, it is unlikely to be created in the future. In all likelihood, the model would not lead to clear policy conclusions. Its usefulness from the perspective of regional policy would be thus very limited.
The paper uses the results of the project financed by the Polish National Science Centre “Concept of the territorial cohesion in cohesion policy. Implications for Economic Growth" (no. 2012/05/B/HS4/04212).
Recent publications by this author:
- Innovation and internationalization. Evidence for Poland from a firm-level survey
- __undefined_title_en__
- The role of openness in economic growth of regions
Dodatkowe
Download:Przestrzenne_aspekty_wzrostu_gospodarczego._Przeglad_literatury_teoretycznej.pdf
Tagi:wzrost gospodarczy, nowa geografia ekonomiczna, rozwój regionalny
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