The EU in the new complex geography of economic systems: models, tools and policy evaluation Descriptions are provided by the Actions directly via e-COST.
The uneven geographical distribution of economic activities is a huge worldwide challenge. For the EU regions this is shown by the deep differences within and across nations. Spatial inequalities are evolving through time following complex patterns determined by economic, geographical, institutional and social factors. The New Economic Geography approach, which was initiated by P. Krugman in the early 1990’s, describes economic systems as very simplified spatial structures. The Action aims at developing a more sophisticated modelling of the EU visualised as an evolving trade network with a specific topology determined by the number and strength of national, regional and local links. Economic policies should be specifically designed to take into account this pervasive network structure assessing the position of backward locations within the network and focussing on instruments that favour interconnections.
The expected results will provide a basis for an improved evaluation of such policies, in particular for the European Cohesion policy, considering their impact on the welfare level of EU citizens and its geographical distribution. To achieve this objective this Action will enhance interdisciplinary networking combining recent approaches in economics with the most advanced mathematical and computational methods for analysing complex and non-linear systems.