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Understanding Local Economic Development

Understanding Local Economic Development

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This book offers insights into the process and the practice of local economic development. Bridging the gap between theory and practice it demonstrates the relevance of theory to inform local strategic planning in the context of widespread disparities in regional economic performance. The book summarizes the core theories of economic development, applies each of these to professional practice, and provides detailed commentary on them. This updated second edition includes more recent contributions - regional innovation, agglomeration and dynamic theories – and presents the major ideas that inform economic development strategic planning, particularly in the United States and Canada. The text offers theoretical insights that help explain why some regions thrive while others languish and why metropolitan economies often rise and fall over time. Without theory, economic developers can only do what is politically feasible. This text, however, provides them with a logical tool for thinking about development and establishing an independent basis from which to build the local consensus needed for evidence-based action undertaken in the public interest. Offering valuable perspectives on both the process and the practice of local and regional economic development, this book will be useful for both current and future economic developers to think more profoundly and confidently about their local economy.

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Keywords

  • agglomeration economies
  • American Economic Development Council
  • balanced and unbalanced growth in the US
  • economic base
  • Economic development
  • Economic Development Practice
  • economic growth
  • Factor Proportions Theory
  • Growth Pole Theory
  • Industrial Clusters
  • industrial specialization
  • interregional trade in the US
  • Knowledge spillovers
  • LOCAL ECONOMIC DEVELOPMENT
  • local economic development in the US
  • Neoclassical Growth Theories
  • Product Cycle Theory
  • Regional Growth Theory
  • thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTP Development studies
  • thema EDItEUR::J Society and Social Sciences::JP Politics and government
  • thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy
  • thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCF Labour / income economics
  • thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
  • thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVS Regional / urban economics
  • workforce development

Links

DOI: 10.4324/9780367815134

Editions

edition cover

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