Technological progress and economic policies have enabled many economic activities to become highly mobile. A crucial question in contemporary economics therefore concerns where they 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 and providing important theoretical and concrete insights.
Throughout this book, Miroslav N. Jovanović uses evolutionary concepts to analyse the behaviour of a multitude of players in the economic arena, from individuals to firms, institutions and industries, considering the ways in which they act, react, interact, adapt and change over time. Jovanović begins with a thorough exploration of the theory underpinning his arguments and the history of the subject. Chapters then apply these concepts to an examination of current topics, including the supply chain economy, market structures, globalisation, international firms and regional policies, creating a strong argument for the importance and utility of an evolutionary model and illuminating areas of future enquiry.
This book will be crucial reading for students and scholars working in economic geography, international economics and development, business studies and management. Policymakers will also appreciate its insights into recent developments and relevant policy suggestions.