Summary of Seminar 5: Evolutionary Economic Geography and relatedness

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00:00:00 - 01:00:00

This video discusses the concept of relatedness in urban studies and planning. The speaker uses the example of cities renewing themselves to illustrate the implications of evolutionary economic geography. The presenter explains how related diversification is the rule and related diversification is the exception in city development. This is important because it allows for new economic activities to be developed and for cities to grow.

00:00:00 This seminar discusses the consequences of simplifications in urban models on our understanding of cities. The speaker, Ron Boschma, introduces the concept of relatedness and its importance in urban studies and planning. He uses the example of cities renewing themselves to illustrate the implications of evolutionary economic geography.
00:05:00 The presenter explains how related diversification is the rule and related diversification is the exception in city development. This is important because it allows for new economic activities to be developed and for cities to grow.
00:10:00 This 1-paragraph summary explains the relatedness framework developed by Hidalgo, Klinger, Barabasi and Hausmann in a science article. The framework looks at countries and regions and determines if they have related products based on the frequency of their co-occurrence in export portfolios. Cities can also use this framework to determine their opportunities to diversify their economy.
00:15:00 The presenter discusses how cities and regions can grow by adding new economic activities, but it depends on the capabilities the region has accumulated in the past. Next slide please.
00:20:00 This video discusses how the concentration of complex activities in cities correlates with increased economic benefits. It also shows how the concentration of complex technologies has increased over time.
00:25:00 The researchers studied the entries of complex technologies and industries in regions with different levels of GDP, population density, and technological complexity. They found that regions with higher GDPs, densities, and complexity levels are more capable of entering into high-complexity activities.
00:30:00 The video discusses how regions diversify their economies by looking at both relatedness and complexity of industries. Regions with more complex industries have more opportunities to diversify, while regions with less complex industries have more opportunities to focus on less complex industries. Cities and regions are connected to each other, and a region's capabilities depend on the type of external linkages it has access to.
00:35:00 This video discusses how regions can connect to each other to gain access to complementary capabilities that are needed to develop new technologies. Regions with strong capabilities in related technologies are shown in dark colors on the map.
00:40:00 Ron Boschma explicates how urban regions must have certain capabilities in order to be successful in the global economy, and how specialization and relatedness play a role in city competitiveness. He also discusses how history and capabilities can limit opportunities for regions.
00:45:00 This video discusses how economic geography affects the economic viability of regions and the importance of policy in order to create new industries and generate jobs. Regions with similar industries can often be successful due to chance, and new industries will not be generated in a short amount of time if policy is not enacted.
00:50:00 The presenter discusses how economies become more complex on average, and how this benefits the individual. They present low complexity activities as having lower returns, but note that this is because they are competing with many other regions.
00:55:00 The speaker discusses how relatedness is related to concepts of proximity and cognitive proximity. She notes that the concept of proximity is important for understanding how economies function and renew themselves.

01:00:00 - 01:05:00

The presenter discusses the concept of relatedness and how it affects the activities of a city. He recommends that people specialize in a diversified set of industries and avoid getting locked into one particular area.