Geography of production and economic integration
By: Miroslav N. Jovanovic.
Series: Routledge studies in the modern world economy -- 28
Publisher: Routledge
Published: 2001
Place of publication: London
Language: eng
Number of pages: 327
Subjects: Economic geography.; Production (Economic theory); Industrial location.; International economic integration.
Description: "The question of where economic activity will locate in the future is an important issue in present-day economics. In all societies, each market-oriented firm must make decisions about what to produce, for whom, how and where, while taking into consideration varying levels of economic integration caused by factors such as discriminatory trade deals and the growing importance of regionalisation in the world economy.".

"The traditional neo-classical model of international trade was updated during the 1980s with 'new trade theory' and subsequently by the geography of production in the 1990s. This has deepened our understanding of the basis for, and effect of, specific locations of industries on trade and vice versa. At the heart of this development are market imperfections such as transport costs, imperfect competition, economics of scale, product differentiation and sunk costs.

Although this new spatial economics is in its pioneering phase, it is nonetheless a formidable task to formalise it because of a mix of numerous market imperfections, historical accidents and chances that shape the geography of production. This book discusses the way in which economic integration and perferential trade agreements reinforce or alter the existing location of industries.

Using a conceptual approach with real-life examples, the author seeks to clarify and explain the key tendencies and influences of the relationship between spatial distribution of production and economic integration." "Geography of Production and Economic Integration will help to develop the understanding of this highly topical subject for students, specialists and policy-makers."--BOOK JACKET.
Notes: Includes bibliographical references and index.