New Logic of Regional Economic Development:New Spatial Economics Including Travel Costs
The increasing relative importance of transportation costs for individuals has led to profound changes in the foundation of agglomeration economy.This article takes the lead in establishing a New Spatial Economy core-periphery model that includes travel costs based on the theory of New Spatial Economy.Through mathematical deduction,it explores the inherent logical mechanism between travel costs,qualities of space,and economic development.Research has found that:(1)Qualities of space has an impact on regional economic development.Improving the qualities of space of a region will promote the economic agglomeration,making it more likely to become a core area.(2)The increase in travel costs has led to an widening gap in qualities of space between regions,further strengthening the economic development advantages of regions with higher qualities of space.(3)The quality premium effect drives up the price index of areas with higher qualities of space,which to some extent hedges the agglomeration of economic activities towards areas with higher qualities of space.This article has important value in constructing a new development pattern from a spatial perspective and achieving high-quality development.
Travel CostQualities of SpaceQuality Premium EffectRegional Economic DevelopmentNew Spatial Economic
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