The Importance Of Economic Geography

Economic geography paper

Introduction

This is the study of location, the distribution and spatial firm of economic ways in the globe. If one looks at the history generally, Economic Geography is scrutinized as a minor field of the discipline of geography, unfortunately, in the last decades many economists have shown interests that can be said to be part of economic geography. Economic geography has occupied different approaches to many varieties subject matters, which includes transportation, location of industries, international trade, economies of agglomeration in other words linkages, development, gentrification. Real estate, gendered economies, ethnic economies, the relationship between the economy and the environment and globalization.

For instance, economic geography helps in growth of trading networks where they are possible, but on the other hand, it can render military downfalls and the succeeding of resources easier to achieve. Characteristics of economic geography that makes it easy to trade, for example, roads, railways and bridges can as well be used for resource extraction and troop movements. Scholars have understood that economic geography is now common to gravity models of trade. Furthermore, in 1979, a U.S economist by the name Paul Krugman came up with a new model to further explain this. In his research, he revealed that initially creation of international trade can be used to clarify the key issues in economic geography. In this context, both trade and economic geography, the objective is to explain what goods are produced and from where. Also in theories of economic geography tries to specify the forces in which labor and capital are located in specific areas and not

(on the scale of 1000 points this is not significant). Singapore is only 42 point behind New York and it is ranked 3rd, Tokyo ranked fifth as it is 60 point behind New York. The normal rating of the top 5 cities in each region shows that the past dominance of the leading centres in Western Europe and North America are eroded over time by the leading centers in Asia. The leading 5 centers in North America have a slight high mean rating than the ones in Western Europe together with Asia. The top centers in the other regions specifically Latin America and Eastern Europe or central Asia are also ending the