{"title":"Two legal tenders, no currency. El Salvador’s bitcoin adoption between world money and international money","authors":"Tobias Boos , Juan Grigera","doi":"10.1016/j.peg.2025.100045","DOIUrl":"10.1016/j.peg.2025.100045","url":null,"abstract":"<div><div>This article critically examines the adoption of Bitcoin as legal tender in El Salvador, contextualising it within the legacy of official dollarisation after 2001. First, we empirically assess the benefits and costs of dollarisation, finding that, despite some theoretical claims, the benefits remain questionable in hindsight, while the costs for the country were relatively low. Second, we explore Bitcoin's role as legal tender, proposing its understanding as a form of International Money and its potential in facilitating remittances. Building on this, we show that the existing dollarisation and a ‘soft adoption’ of Bitcoin contributed to a comparatively low risk and low associated costs of introducing Bitcoin as a second legal tender. Third, we situate these developments within the broader geopolitical context, where the global monetary and financial system and the hegemony of the USD (the current World Money) are increasingly being repoliticised. In this light, the adoption of Bitcoin can be seen as a trial-and-error, unsuccessful at best, attempt by the Salvadoran government to enhance its leverage, improve remittance flows, and provide a low-cost escape valve in an evolving global landscape.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 2","pages":"Article 100045"},"PeriodicalIF":0.0,"publicationDate":"2025-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144138014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Michael P. Schlaile , Jonathan Friedrich , Luise Porst , Jana Zscheischler
{"title":"Bioeconomy innovations and their regional embeddedness: Results from a qualitative multiple-case study on German flagship innovations","authors":"Michael P. Schlaile , Jonathan Friedrich , Luise Porst , Jana Zscheischler","doi":"10.1016/j.peg.2025.100044","DOIUrl":"10.1016/j.peg.2025.100044","url":null,"abstract":"<div><div>This article explores the regional embeddedness of bioeconomy innovations in Germany, focusing on “flagship” innovation projects that exemplify the challenges and opportunities of systemic changes towards bioeconomies. While bioeconomies have been promoted as solutions to global challenges and opportunities for sustainable regional development, there are ongoing debates about the actual benefits of bioeconomies. These debates result not least from diverging visions of both bioeconomy and innovation. The concept of regional embeddedness shows promise for addressing such issues but needs empirical refinement and conceptual substantiation. Therefore, our study investigates how innovators perceive their bioeconomy innovations to be regionally embedded and which regional challenges and opportunities they identify, using a qualitative multiple-case study approach. More precisely, we report the findings from 16 interviews with experts involved in “flagship” innovations in the German bioeconomy. Our findings highlight the heterogeneity of bioeconomy visions and corresponding innovations and confirm the relevance of different types of proximity. Moreover, higher education institutions and research institutes are found to play a key role in driving bioeconomy innovations, which may, however, contribute to regional differences in capacities and capabilities for sustainable bioeconomy innovations and transitions. Building on our findings, we propose a first conceptual framework incorporating both procedural and effectual dimensions of regional embeddedness. Generally, our article provides insights for policymakers, innovators, and other scholars interested in better understanding and governing bioeconomies through regionally embedded innovation processes.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100044"},"PeriodicalIF":0.0,"publicationDate":"2025-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143927766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From average to extremes: Application of archetypal analysis in economic geography","authors":"Milad Abbasiharofteh","doi":"10.1016/j.peg.2025.100042","DOIUrl":"10.1016/j.peg.2025.100042","url":null,"abstract":"<div><div>This article introduces Archetypal Analysis (AA) to economic geographers. AA is a novel unsupervised learning method that identifies and analyses outliers in multivariate datasets. Unlike conventional clustering methods focusing on the average, AA highlights extreme cases and represent each data point as convex combinations of extreme points. This method offers a needed analytical tool for recent economic geography research efforts studying the key drivers of success against all odds, like green transition in peripheral regions or poor outcomes like regional left-behindness. The article showcases the applicability of AA by creating a typology of European regions’ technological specializations in clean and dirty technologies. We provide open access to an R script to facilitate the adoption of AA in future economic geography research.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100042"},"PeriodicalIF":0.0,"publicationDate":"2025-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143874866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A GPN perspective on the adoption of blockchain technology in global supply chains","authors":"Sarah Franz","doi":"10.1016/j.peg.2025.100043","DOIUrl":"10.1016/j.peg.2025.100043","url":null,"abstract":"<div><div>Blockchain technology is lauded for its potential to enhance transparency, traceability, and ultimately lead to more resilient and sustainable supply chains. However, its implications for power dynamics, governance and spatial reconfigurations in global production networks (GPNs) remain underexplored. This paper examines the adoption of blockchain technology in global supply chains and reviews its associated benefits and barriers. The paper highlights three main arenas where applying key concepts of GPN theory can help us understand how digital technologies, such as blockchain, reshape the geography and organisation of production. First, focusing on the different dimensions of power could provide a nuanced exploration of blockchain’s impact on power relations between actors in GPNs. Second, the field would benefit from an analysis of the interplay between digital- and physical space acknowledging the human factor in narratives of digital transformation. Third, there is a need to evaluate blockchain’s role as a potential technology of globalisation, changing the nature of global production and trade. For GPN theory to remain relevant, it must integrate the effects of digital technologies on actor strategies, power relations, and uneven development within global production systems.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100043"},"PeriodicalIF":0.0,"publicationDate":"2025-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143917477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exploring the spatial dynamics of circular economy transitions: Insights and lessons from Chile's mining territories","authors":"Konstantin Born","doi":"10.1016/j.peg.2025.100041","DOIUrl":"10.1016/j.peg.2025.100041","url":null,"abstract":"<div><div>This paper investigates the spatial dynamics of Circular Economy (CE) transitions in mineral resource-dependent regions. The research addresses a gap in the CE literature’s understanding of the influence of spatial factors in CE transitions, which is dominated by empirical studies of industrialised regions with mature industrial ecosystems. As a result, our current understanding of CE transitions arguably relies heavily on cases with spatial configurations of economic activities characterised by high levels of territorial development and existing industrial agglomerations that exhibit strong linkages. Using Chile’s mining territories as a case study, the paper explores how the unique spatial configurations of resource-dependent regions influence their ability to transition to more circular modes of production. These regions are often characterised by economic enclavism and weak local linkages, which shape their ability to transition to more circular modes of production. Through semi-structured and focus group interviews with industry leaders, policymakers, and academics, the study identifies three distinct spatial dimensions that impact regions’ ability to adopt CE strategies and practices: (1) the configuration of physical infrastructure and production locations; (2) the prevalent value system and patterns of cooperation; (3) the diversity of regional industrial capabilities and production networks. The study concludes that overcoming spatial and institutional barriers in enclave economies is essential to fostering sustainable industrial ecosystems and accelerating CE transitions. It contributes to the literature on the spatial dimensions of sustainability transitions and advocates for targeted regional development strategies to promote circular practices in resource-dependent areas.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100041"},"PeriodicalIF":0.0,"publicationDate":"2025-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143864931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The role of real estate in the development of cities and regions: Territorial real estate and economic systems","authors":"Olivier Crevoisier , Thierry Theurillat , Mathias Rota , Alain Segessemann , Anaïs Merckhoffer","doi":"10.1016/j.peg.2025.100040","DOIUrl":"10.1016/j.peg.2025.100040","url":null,"abstract":"<div><div>Real estate has never played such a central role in the development of cities and regions. Yet, paradoxically, it has never been integrated into theories of territorial development. This article contributes to filling this theoretical gap. It proposes the concept of Territorial Real Estate and Economic Systems (TREES) to capture how the urban built environment and its financial dimension interact with the dominant activities of a region. The case of Switzerland is used to empirically delimitate relevant TREEs within a specific national context based on a qualitative analysis. Eight types of clusters are identified for Switzerland to show the diversity of roles played by real estate within the same country, both as induced by territorial development and as a catalyst of it.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100040"},"PeriodicalIF":0.0,"publicationDate":"2025-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143855946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Blockchain real estate: The messy landing of digital property","authors":"Matthew Zook, Michael McCanless","doi":"10.1016/j.peg.2025.100039","DOIUrl":"10.1016/j.peg.2025.100039","url":null,"abstract":"<div><div>This paper analyzes the bridging of digital-based crypto capital with one of the most long-standing and material parts of the economy, real property. Specifically, it uses two cases focused on US-based efforts to use blockchain to fractionalize the ownership and administration of land and housing. We frame this paper around the disconnect between rhetorics of frictionless capital and their dependence on the materiality of real property. Thus, rather than being exclusively a technology for transparency and investment (as proponents stress) blockchain engagements with the materiality of real estate embroiled within centuries long processes of dispossession, predation and exploitation. The two case studies are CityDAO, an online business/community focused on building the “crypto city of the future” holding two rural parcels of land in Wyoming and Colorado, and RealT, a fractional, tokenized real estate platform that invests in rental housing, using Section 8 vouchers as a means of ‘bridging’ global crypto-capital into the materiality of Detroit’s housing market.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100039"},"PeriodicalIF":0.0,"publicationDate":"2025-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143684551","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A role for economic geographers in the entrepreneurial ecosystem framework: Global pipelines and the mobility challenge","authors":"Jan Jacob Vogelaar , Shiri Breznitz","doi":"10.1016/j.peg.2025.100037","DOIUrl":"10.1016/j.peg.2025.100037","url":null,"abstract":"<div><div>Entrepreneurial ecosystems have emerged as an influential framework for understanding the spatial dimensions of entrepreneurship. Beyond offering an analytical lens, the framework’s promise lies in its potential as an ‘actionable framework’ to guide regional actors in strengthening ecosystems. This short paper argues that the framework suffers from two key shortcomings that must be addressed to realize this potential. First, ecosystem actors must overcome regional constraints by building global pipelines to access resources beyond their immediate sphere of influence. Second, they need to address the challenge of retaining key actors, such as graduates and high-growth firms, which may relocate. These shortcomings present opportunities for economic geographers to contribute empirical and theoretical insights that enhance the framework’s actionability. We conclude that, despite these challenges, ecosystem actors have a reason for optimism. The growing recognition that different entrepreneurial ecosystem configurations support various types of entrepreneurships offers regional actors new perspectives.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100037"},"PeriodicalIF":0.0,"publicationDate":"2025-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143562213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From bytes to bricks: Advocating for a turn toward platform-led infrastructuralization in economic geography","authors":"Sina Hardaker","doi":"10.1016/j.peg.2025.100038","DOIUrl":"10.1016/j.peg.2025.100038","url":null,"abstract":"<div><div>While it is widely accepted that digital platforms rely on and reorganize existing (physical) infrastructure, most research assumes that these platforms operate with minimal physical assets. This paper discusses the phenomenon of <em>platform-led infrastructuralization</em>. The core argument is that <em>platform-led infrastructuralization</em> occurs when digital platforms actively engage in designing, funding, and operating the physical infrastructures necessary not only for their own functioning but also for the broader economy. This involvement enables platforms to expand and consolidate their technological ecosystems and market reach. Using the e-commerce and logistics sector as a case study, the paper illustrates how platforms strategically shape physical landscapes to further their interests and become critical chokepoints – online and offline. While these investments in the built environment consolidate corporate power and control over goods, services, and data flows, they also create vulnerabilities. The paper redefines the concepts of infrastructure and digital platforms, challenging the conventional view of platforms as primarily virtual entities by emphasizing their role in (actively) shaping the material world. In doing so, the paper calls for a more comprehensive inclusion of platforms’ entanglement with the built environment in platform research—a focus that economic geography is particularly well-equipped to address. The paper concludes by proposing new research directions for the future.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100038"},"PeriodicalIF":0.0,"publicationDate":"2025-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143577418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assetizing the video game: Play-to-earn (P2E) games and blockchain rentiership","authors":"Gordon Kuo Siong TAN","doi":"10.1016/j.peg.2025.100036","DOIUrl":"10.1016/j.peg.2025.100036","url":null,"abstract":"<div><div>Rentiership has recently involved the growing use of novel technological mechanisms to facilitate rent capture and extraction. This trend is reflected in a slew of \"play-toearn\" (P2E) video games. P2E users can earn money by playing blockchain-based video games and accumulating cryptocurrency tokens and other virtual in-game assets, which are represented as non-fungible tokens (NFTs). This paper argues that P2E gaming represents a new form of techno-economic rentiership that blurs the boundaries between work and play. Using the P2E game Axie Infinity as a case study, this paper explores how economic rents are being made in a digital environment and examines the role of labor in driving rentiership dynamics. Blockchain serves as a tool for generating rents by facilitating the decentralized production of a plethora of digital assets by individual users, where property and ownership rights of these assets are algorithmically governed. P2E labor is organized under manager-scholar programs and gaming guilds that allow asset owners to receive a cut of players’ earnings in exchange for lending game assets. These labor arrangements promote community in the assetization process. Such a rentiership system is inherently unstable, relying on a highly financialized business model that needs to keep attracting financially motivated players who sustain asset values through their gameplay.</div></div>","PeriodicalId":101047,"journal":{"name":"Progress in Economic Geography","volume":"3 1","pages":"Article 100036"},"PeriodicalIF":0.0,"publicationDate":"2025-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143176259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}