KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
Spontaneous Orders and the Emergence of Economically Powerful Cities
Abstract: The importance of cities to economic dynamism and growth
cannot be emphasized enough. It is crucial for our understanding of what
drives economic growth to understand how cities emerge, develop and
prosper. This paper investigates the emergence of cities from a spontaneous
order and urban economics perspective. The analysis focus on agglomeration
effects, externalities and regional clustering as explanations of cities
and regional growth. Factors such as local knowledge and dispersion of
knowledge are identified as important growth factors. With origin in
Hayek’s famous citation “particular circumstances of time and place” these
factors are thoroughly discussed in a spontaneous order framework.
Keywords: Spontaneous orders; cities; urban economics; dynamic externalities; knowledge-flows; (follow links to similar papers)
JEL-Codes: B25; B53; O18; R10; R12; (follow links to similar papers)
23 pages, May 24, 2013
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