Phase transitions as a cause of economic development

Andersson, D and Andersson, A 2018, 'Phase transitions as a cause of economic development', Environment and Planning A: Economy and Space, pp. 1-17.


Document type: Journal Article
Collection: Journal Articles

Title Phase transitions as a cause of economic development
Author(s) Andersson, D
Andersson, A
Year 2018
Journal name Environment and Planning A: Economy and Space
Start page 1
End page 17
Total pages 17
Publisher Sage Publications Ltd.
Abstract Economic development spans centuries and continents. Underlying infrastructural causes of development, such as institutions and networks, are subject to slow but persistent change. Accumulated infrastructural changes eventually become so substantial that they trigger a phase transition. Such transitions disrupt the prior conditions for economic activities and network interdependencies, requiring radically transformed production techniques, organizations and location patterns. The interplay of economic equilibria and structural changes requires a theoretical integration of the slow time scale of infrastructural change and the fast time scale of market equilibration. This paper presents a theory that encompasses both rapidly and slowly changing variables and illustrates how infrequent phase transitions caused four logistical revolutions in Europe over the past millennium.
Subject Economic History
Urban and Regional Economics
Economic Development and Growth
Keyword(s) Infrastructure
Development
Institutions
Logistical revolution
Phase transition
DOI - identifier 10.1177/0308518X18803112
Copyright notice © The Author(s) 2018.
ISSN 1472-3409
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