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Regional Context and Global Trade

Abstract : How should we think of the role of regions in relation to the global economy? Theory has surprising gaps when it comes to building a unified vision of these two scales of development. Two contributions to such a vision are proposed in this article. First, the relationship between geographic concentration and the regional economic specialization it underpins and globalization should be theorized as a dynamic process. Standard location and trade theory is not adequate for this task; instead, the dynamic relationship can be captured through growth theory. But capturing this dynamic relationship requires correcting growth theory to separate its local and its global components, which are, respectively, Marshall- Arrow and Romer externalities. Second, the missing element in all theories of geographic concentration and locally specialized development is an element labeled “context” here. A theory of context, in turn, raises important new questions about the dynamic welfare and developmental effects of contemporary processes of fragmenting and relocating production at a global scale.
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Submitted on : Friday, March 25, 2022 - 12:36:09 PM
Last modification on : Tuesday, March 29, 2022 - 2:34:00 PM

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Michael Storper. Regional Context and Global Trade. DRUID Summer Conference, "Entrpreneurship and Innovation", Jun 2008, Copenhague, Denmark. ⟨hal-03619804⟩

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