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Economic Geography Flashcards

(60 cards)

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1
Q

What is the main critique economic geography makes of neoclassical growth theory?

A

Neoclassical theory assumes perfect markets and convergence, ignoring spatial inequality, institutional variation, and historical context.

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2
Q

What does endogenous growth theory add to neoclassical models?

A

It incorporates human capital, innovation, and R&D as internal sources of growth, but still often treats institutions and firms as ‘black boxes’.

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3
Q

How does David Harvey explain uneven development?

A

Harvey argues that capitalism produces spatial inequality through the ‘spatial fix’, using geographical expansion to resolve crises of overaccumulation.

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4
Q

What is Harvey’s ‘spatial fix’ and how does it relate to globalisation?

A

It describes capitalism’s strategy of resolving crisis by investing in new spaces (e.g. outsourcing, FDI), thus driving globalisation.

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5
Q

What is Doreen Massey’s ‘spatial division of labour’?

A

She argues globalisation separates high-value and low-value activities across space, reinforcing core-periphery inequalities.

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6
Q

What is Richard Florida’s critique of globalisation?

A

Florida argues that the world is not flat but ‘spiky’, as innovation and economic activity remain concentrated in specific global regions.

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7
Q

What are the core insights of Global Value Chain (GVC) theory?

A

It explains how lead firms control production across space, capturing value at high-profit stages while outsourcing low-value work.

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8
Q

How do Coe and Yeung’s Global Production Networks (GPNs) expand on GVCs?

A

They emphasise institutional context, embeddedness, and strategic coupling between global firms and regional economies.

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9
Q

What is the ‘smile curve’ in GVCs?

A

A model showing how value is concentrated in R&D and branding, while middle stages like manufacturing capture less value.

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10
Q

What is the OLI paradigm in international business theory?

A

Dunning’s model explains why firms internationalise based on Ownership, Location, and Internalisation advantages.

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11
Q

How do MNEs influence regional inequality?

A

They tend to locate high-value functions in core regions while placing low-value or extractive tasks in peripheral areas.

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12
Q

What is meant by ‘footloose capital’?

A

Capital that is highly mobile and relocates easily in search of lower costs or higher returns, often destabilising local economies.

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13
Q

How does North (1990) define institutions in economic geography?

A

Institutions are the formal and informal rules that structure social and economic interactions.

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14
Q

What is the role of governance in Global Value Chains?

A

Governance shapes who participates, under what conditions, and who captures value — through firm power, state policy, or civil society.

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15
Q

Why are SEZs controversial development tools?

A

They attract investment but often generate limited local spillovers, create dependency, and risk social/environmental degradation.

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16
Q

What is ‘path dependency’ in regional development?

A

The idea that historical economic specialisations and institutions shape present development trajectories.

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17
Q

How does colonialism continue to influence uneven development?

A

Colonial economies were structured for extraction, creating structural dependencies that persist in trade, infrastructure, and institutions.

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18
Q

What does Rodrik argue about institutions and growth?

A

That high-quality institutions — not just capital or trade — are essential for sustained and inclusive development.

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19
Q

What is regionalisation and how does it differ from globalisation?

A

Regionalisation focuses on strengthening intra-regional trade and integration, often for resilience and sustainability.

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20
Q

What are localisation and urbanisation economies in agglomeration theory?

A

Localisation: firms in the same industry benefit from proximity. Urbanisation: diverse industries in cities foster innovation (Jacobs).

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21
Q

What is the Environmental Kuznets Curve and its critique?

A

It posits pollution rises then falls with income. Critics argue it doesn’t hold for global pollutants and assumes automatic ‘greening’.

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22
Q

What is economic geography concerned with?

A

It studies how economic activities are distributed across space and how geography influences economic outcomes.

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23
Q

What does ‘uneven development’ mean?

A

It refers to the persistent spatial inequality in economic growth, income, and opportunity between regions.

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24
Q

What are global value chains (GVCs)?

A

Production systems spread across multiple countries where different stages (e.g. design, manufacturing) occur in different locations.

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25
What role do institutions play in regional development under economic geography?
Strong institutions support innovation, coordination, and investment, while weak institutions hinder growth and upgrading.
26
What is meant by value capture in GVCs?
It refers to how much economic benefit (e.g. profits, wages) a region retains from its participation in a global production system.
27
How does 'strategic coupling' influence development?
Regions can benefit from GVCs if their assets align with the needs of global lead firms, enabling deeper integration and value capture.
28
How do MNEs contribute to globalisation?
They facilitate cross-border investment, knowledge flows, and production fragmentation.
29
Why are some regions more attractive to MNEs than others?
Because of location advantages like skilled labour, infrastructure, state support, and proximity to markets.
30
What is the difference between formal and informal institutions?
Formal institutions include laws and policies; informal institutions involve norms, trust, and culture.
31
Why is governance critical in GPNs?
It determines the distribution of power, coordination mechanisms, and the extent of value creation and capture across regions.
32
What is structural transformation?
The shift from low-productivity sectors (agriculture) to high-productivity ones (industry, services).
33
What are 'old industrial regions' (OIRs) and why do they struggle?
OIRs are areas historically dependent on heavy industry; they often face 'lock-in' due to outdated infrastructure and skills.
34
What is the main critique of the Environmental Kuznets Curve?
It assumes environmental improvement will come automatically with wealth, ignoring systemic outsourcing of pollution.
35
What are clusters in regional development policy?
Geographic concentrations of interconnected firms and institutions in a field that boost innovation and competitiveness.
36
How do economic geographers view space differently than economists?
They see space as socially produced and uneven, rather than neutral or frictionless.
37
What does it mean to 'de-naturalise' markets?
To show that markets are shaped by historical, political, and institutional forces, not just economic laws.
38
What is meant by 'time-space compression' in globalisation?
A concept by Harvey describing how globalisation reduces the relative distance between places through faster communication and transport.
39
How is the 'race to the bottom' linked to globalisation?
Countries lower wages and regulations to attract investment, often undermining labour and environmental standards.
40
What is 'social upgrading' in value chains?
Improving workers' rights, wages, and conditions alongside economic upgrading.
41
How does the GPN framework challenge the linearity of GVCs?
GPNs emphasise complexity, multi-directional flows, and embeddedness in local institutional contexts.
42
Why do MNEs cluster in global cities?
To access skilled labour, infrastructure, financial services, and political influence.
43
What is 'platform capitalism' and how does it relate to MNEs?
A model where firms like Amazon or Uber orchestrate production and value capture through digital platforms rather than traditional ownership.
44
What is meant by 'institutional thickness'?
The density of supportive institutions, such as business associations, research centres, and governance bodies, in a region.
45
How does uneven institutional capacity explain divergence in development?
Regions with weak legal, regulatory, or educational systems struggle to attract or retain value from economic activity.
46
What does the 'middle-income trap' refer to?
When a country grows beyond low-wage industries but fails to transition to high-value sectors due to weak innovation.
47
What is the role of FDI in development according to economic geographers?
FDI can bring capital and jobs, but often leads to dependency unless local linkages and capabilities are developed.
48
What is meant by 'reshoring'?
Bringing production back to domestic or nearby locations to reduce risk or gain control.
49
What are the risks of specialisation traps in regional development?
Over-dependence on a single industry or sector can leave regions vulnerable to shocks or technological change.
50
Compare GVC and GPN approaches to global production.
GVCs focus on linear, firm-led coordination; GPNs highlight network complexity, institutions, and regional embeddedness.
51
How does the concept of 'value creation vs value capture' explain inequality?
Many regions create value through labour or resources but capture little of the profit, which is concentrated by lead firms or core economies.
52
What is the critique of neoliberal development strategies in economic geography?
They often prioritise market liberalisation and FDI at the expense of inclusive, sustainable growth and local empowerment.
53
How does 'strategic selectivity' shape regional development?
States favour certain regions, sectors, or actors over others, structuring development unevenly through selective policy support.
54
What is the role of 'absorptive capacity' in development?
It refers to a region's or firm's ability to learn from, adapt, and apply external knowledge or technologies.
55
What is a 'white elephant' in economic development projects?
A costly investment with little long-term benefit, often resulting from political prestige projects or failed SEZs.
56
How is financialisation linked to economic geography?
It refers to the growing dominance of financial motives, markets, and actors, reshaping regional economies and firm behaviour.
57
What is the difference between economic and social upgrading?
Economic upgrading improves productivity and position in value chains; social upgrading improves working conditions and rights.
58
How does Harvey link urbanisation to capital accumulation?
Urbanisation is a key spatial fix where surplus capital is absorbed through real estate, infrastructure, and speculation.
59
Why is 'innovation' geographically uneven?
It depends on local institutions, education, infrastructure, and clustering effects — favouring already developed regions.
60
How do agglomeration economies support regional competitiveness?
By lowering costs and fostering innovation through shared infrastructure, skilled labour pools, and knowledge spillovers.

GY100 (12 decks)

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