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Regional context and global trade

Storper, Michael (2009) Regional context and global trade. Economic Geography, 85 (1). pp. 1-21. ISSN 0013-0095

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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.

Item Type: Article
Official URL: http://www.wiley.com/bw/journal.asp?ref=0013-0095
Additional Information: © 2009 Clark University
Library of Congress subject classification: H Social Sciences > HF Commerce
Sets: Departments > Geography and Environment
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 31 Jan 2011 14:38
URL: http://eprints.lse.ac.uk/31917/

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