Regional Economic Development

by Stimson, Robert J.; Stough, Roger R.; Roberts, Brian H.

• ISBN13: 9783540348269
• ISBN10: 3540348263
• Edition: 2nd
• Format: Paperback
• Copyright: 2006-10-15
• Publisher: Springer Verlag

Summary

The second edition of this book is completely reedited making the book even more valuable for graduate students, reflecting recent advances and adding insightful new material. The book is about the analysis of regional economic performance and change, and how analysis integrates with strategies for local and regional economic development policy and planning. First, the book provides the reader with an overview of key theoretical and conceptual contexts within which the economic development process takes place. However, the deliberate emphasis is to provide the reader with an account of quantitative and qualitative approaches to regional economic analysis and of old and new strategic frameworks for formulating regional economic development planning. The second edition brings to the present its original thesis about the need for regions to be fast and flexible, but also to be proactive in order to be prepared to experience increasingly greater shocks while having less time to adjust their economic development to achieve sustainability. This is underscored by events that have occurred since 2001: 9/11 terrorist attacks, continuing rapid advances in technology, the rise China and India, the Tsunami, and all the known on-going and unforeseen risks and challenges that confront nations around the globe and the regions and localities within them. The book presents strategies and the traditional and expanded methods used to create and implement them.

Table of Contents

Foreword	p. V
Acknowledgements	p. VII
Preface	p. IX
Perspectives on Regional Economic Development	p. 1
Regions in the New Global Economy	p. 1
What Is Regional Economic Development?	p. 4
Understanding How Regional Economies Work and the Challenge that Represents for Development Planning	p. 7
The Changing Paradigms Shaping Economic Development Policy and Strategy	p. 11
Some Core Theories and Models of Regional Economic Development	p. 18
Thinking Global While Acting Local	p. 36
Sustainable Development	p. 39
Schools Shaping Thinking About Regional Economic Development Strategy and Planning	p. 42
New Tools, New Strategies for Regional Economic Development Planning	p. 46
Scope and Structure of this Book	p. 49
The Regional Economic Development Movement: The Evolution of Strategy from Early to Contemporary Approaches	p. 53
The Changing Context	p. 53
The Changing Objectives of Local Economic Development Policy	p. 55
Approaches to Planning for Regional Development in the 1970s and 1980s	p. 61
Monitoring Outcomes of Economic Development Programs	p. 73
The Strategic Planning Approach	p. 76
The Concern with Sustainable Development	p. 84
An Enabling Planning Framework for Regional Economic Strategy Formulation	p. 98
Summary	p. 103
Traditional Tools for Measuring and Evaluating Regional Economic Performance I: Economic Base and Shift-Share Analysis	p. 105
The Need to Measure Regional Economic Performance	p. 105
Economic Base Theory and Industrial Targeting	p. 106
Shift-Share Analysis	p. 114
Critiques and Extensions of Traditional Shift-Share Analysis	p. 121
Using the Regional Shift Component as a Dependent Variable to Model Determinants of Spatial Variation in Regional Endogenous Growth: A Case Study of Queensland, Australia	p. 136
Data Envelopment Analysis (DEA)	p. 144
Conclusions	p. 154
Traditional Tools for Measuring and Evaluating Regional Economic Performance II: Input-Output Analysis	p. 157
Measuring Regional Inter-Industry Linkages	p. 157
Compiling a Regional Input-Output Table	p. 157
Exogenous and Endogenous Effects	p. 161
Using Input-Output Analysis to Measure Impact of an Economic Activity	p. 162
Using Input-Output Analysis as a Predictive Tool	p. 164
A Forecasting Application of Input-Output Analysis: An Economic Development Strategy for the Brisbane South East Queensland Region, Australia	p. 165
Using Sub-Regional Input-Output Analysis to Measure Impact Assessment	p. 187
New and Emerging Extensions to Input-Output Models and Conclusions	p. 189
Path Setting: An Approach to Regional Economic Development Futures	p. 191
New Approaches in the Contemporary Era	p. 191
Futures	p. 191
Analyzing Futures	p. 199
Recent Developments in Economic Strategy Formulation	p. 206
A New Synthetic Strategic Framework for Planning	p. 222
The Future Direction of Strategy for Regional Economic Development	p. 232
Summary	p. 235
Industry Clusters and Industry Cluster Analysis	p. 237
A New Context	p. 237
Globalization, Industry Structure and Localization	p. 238
Industry Clusters: A Contemporary Strategy	p. 242
A Basic Approach to Building Industry Clusters	p. 246
Industry Clusters as the New Engines of Metropolitan Economies in the US	p. 252
Quantitative Analysis to Identify and Measure Regional Industry Clusters	p. 257
The Process for a Region Undertaking Cluster Industry Development	p. 270
Conclusions	p. 276
Multi-Sector Analysis: Approaches to Assesing Regional Competitiveness and Risk	p. 279
The Need for a New Technique	p. 279
Theoretical Basis for Multi-Sector Analysis (MSA)	p. 281
Using MSA for Regional Strategy	p. 288
The Process for Operationalising the MSA Approach	p. 299
Examples Applying Multi-Sector Analysis	p. 303
Future Development of Multi-Sector Analysis	p. 317
Capacity Building, Institutions and Leadership for Regional Economic Development	p. 319
An Emerging New Perspective on Regional Capacity Building	p. 319
Endogenous Processes	p. 320
Social Capital	p. 321
Leadership and Institutional Capacity Building	p. 322
Leadership and Regional Economic Development: A Conceptual Model	p. 323
Re-Engineering Regions and Rapid Response	p. 334
Networks, Strategic Alliances and Network Resources	p. 341
Conclusions	p. 346
Decision Support Tools to Inform Regional Economic Development Analysis and Strategy	p. 349
Using Spatial Information Technology to Build Decision Support Systems	p. 349
Geographic Information Systems	p. 351
Case Study of a GIS to Support Economic Development Decision Making	p. 352
A Spatial Decision Support System	p. 358
Integrating Quantitative and Qualitative Analysis	p. 367
A Spatial Optimization Modelling and Visualization Capacity	p. 373
Spatial Analysis of Geographic Clustering of Industry Clusters	p. 382
Conclusions	p. 383
Emerging Issues for Regional Economic Development	p. 385
A Rapidly Changing World: The Need for a New Paradigm	p. 385
Future Directions of Regional Economic Strategy	p. 389
Managing Risk	p. 395
The Evolution of Analytical Tools	p. 399
The Challenge of the Virtual Economy	p. 401
Sustainable Development	p. 407
Being Fast and Flexible in Search of Sustainable Development	p. 413
Figures	p. 415
Tables	p. 419
References	p. 423
Index	p. 449
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