Path-dependency, externalities and related variety in regional innovation systems

Elekes Zoltán: Path-dependency, externalities and related variety in regional innovation systems. In: Regional Growth, Competitiveness and Development. pp. 232-243. (2013)

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Evolutionary economics has become one of the most influential theories on the processes of technological change in the past few decades. Interested in the spatial aspects of said change, the newly forming approach of evolutionary economic geography explicitly relies on path-dependency. In this paper I focus on path-dependency and its key notions, such as positive feedback-loops and irreversible processes are at the heart of a dynamic economic structure and the evolutionary nature of technological change. This paper1 argues that the path-dependency of a regional economy is linked to the newer evolutionary approach of related variety. It attempts to connect the evolutionary process of generating variety with the existing technological regime of a regional economy. This approach may serve useful insights for policymakers, when facing the inertia of a locked-in regional economy, especially in the cases of post-socialist economies of Central and Eastern European countries. We conclude that path-dependency is crucial for policymaking in a regional economy. Respecting the historic embeddedness of a local economy can help policy achieve its goal. Proximity, agglomeration economies and variety have path-dependent aspects. Related and unrelated variety affects the intensity of knowledge spillovers occurring in and between sectors, as well as the overall resilience of the regions’ economy.

Item Type: Book Section
Journal or Publication Title: Regional Growth, Competitiveness and Development
Date: 2013
ISBN: 978-963-306-222-7
Page Range: pp. 232-243
Uncontrolled Keywords: Gazdaságpolitika
Additional Information: Bibliogr.: p. 242-243. ; összefoglalás angol nyelven
Date Deposited: 2019. May. 23. 10:49
Last Modified: 2019. May. 23. 10:49

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