Goto, Ai;
(2000)
City growth and dynamic externalities.
Masters thesis (M.Phil), UCL (University College London).
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Abstract
This study investigates the extent of dynamic externalities, particularly knowledge spillovers, in agglomerated industries in English regions. It questions why external economies of scale exist and considers their ramifications for appropriate planning policy. By doing so, it suggests one set of ways in which to revise UK regional planning, with the effect that UK regional disparities could be decreased. The study examines the predictions of two theories that focus on knowledge spillovers. The first theory is generally attributed to Marshall, Arrow, Romer and Porter, and the second to Jacobs. A statistical model is developed based on assumptions made by Glaeser, Kallal, Scheinkman and Shleifer, and analysed using data on industry output, for standard regions in England. The findings suggest that knowledge spillovers provide an important policy lever to affect regional growth and development. Within-industry externalities do not show up for most industries in England, and in fact for most industries the evidence shows a disadvantage of industrial clustering. However, the most striking finding is that there is a substantial and statistically significant difference between kinds of industries, with high-growth industries presumed to include notably new industries having the most benefits (and the least disadvantages) of clustering. Ultimately, the findings point toward policy conclusions. Beneficial knowledge spillovers do not happen automatically but only if encouraged through appropriate means. The correct policies must be addressed to appropriate industries; that is, positive externalities through knowledge spillovers should be recognised and supported in new high-technology industries.
| Type: | Thesis (Masters) |
|---|---|
| Qualification: | M.Phil |
| Title: | City growth and dynamic externalities |
| Open access status: | An open access version is available from UCL Discovery |
| Language: | English |
| Additional information: | Thesis digitised by ProQuest. |
| Keywords: | Social sciences; Agglomerated industries; Knowledge spillovers |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10099491 |
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