As urban and regional economies become more integrated into the global economy, their exposure. Guo hubin, deng zhituan, study on the coordinated development of regional logistics and regional economy in the yangtze river economic belt, contemporary economic management, pp. Regional economic economies and communities are under increasing and continued pressure. Regional development is a broad term but can be seen as a general effort to reduce regional disparities by supporting employment and wealthgenerating economic activities in regions. In fact, there is no agreement on the meaning of development among planners and thinkers jsome people say it means increase in income, others lay emphasis on employment, quality of life an happiness. Regional economic divergence has become a threat to economic progress, social cohesion and political stability in europe. The regional economic communities recs of the african. Regional business, industry and council have worked handinhand to guide the development of a new evidencebased economic plan with targeted and measurable actions which will lead the sunshine coast. The regional economic communities recs of the african union. This is a working paper, and hence it represents research in progress. This approach not only proposed a dramatic change in the operating practices of large mining houses, but also suggested a grand vision for the industry as a long term. The wny regional economic development strategic plan one. Innovative diverse strategies are however also required to maximise the opportunities across queenslands diverse regions. Pdf a comprehensive view of regional economic development in.
Theoretical approaches of regional development munich personal. On november 4, 1988, economic development administration designated as an economic rndc development district, as rndc is the logical body to work with economic development issues and problems. Consolidated funding application regional economic. The guide will have immediate use for all those involved in economic development, regardless of where on the journey from initial response to reimagination they are. The covid 19 pandemic and associated economic crisis. In the fourth section, we discuss the importance of a bottomup approach to. Staff from municipal governments and regional economic development organizations, nonprofit organizations seeking to help revitalize communities, and other. Theory and methods provides students with a sound approach to analyzing the economic progress of a region or urban area.
The citys plan for economic development borrows key ideas from the regional plan and explicitly highlights areas of convergence between city and regional interests. Regional development is the provision of aid and other assistance to regions which are less economically developed. One aspect of that challenge is to achieve development in an interdependent world, that is a world in which goods, services. This pdf is a selection from an outofprint volume from the national bureau of economic. There are a few other economic factors which also have some bearing. The first has shown the importance of clusters to regional economic growth porter 1998. In these three states, there are 28 independent though interconnected regional development organizations. Citwide goals and policies page 2158 adopted march 3, 2015. Rethinking regional economic development australian.
The regional competitiveness approach weaves together three important findings about how regional economies work. Henry hatry with the us urban institute has had a major influence on the thinking about performance measurement in economic development. The redc in turn created working groups with specific expertise to make recommendations for the strategic plan. The textbook is divided into four sections for ease of reference. The stock of capital and the rate of capital accumulation in most cases settle the question whether at a juven point of time a country will grow or not.
The following chapters focus separately on the roles that are being played by state and local governments, universities, and the private sector in encouraging hightechnology industrial development. The red grants program is a state government initiative that invests in communitydriven projects that support efforts to create longterm economic growth and job. Through the regional economic development councils, we have replaced the onesize fits all approach to economic growth with a groundup strategy that focuses on cooperation and investing in regional assets to generate opportunity. Regional economic development analysis and planning. An approach to regional economic development futures. It is the process of economic development of a region through which a region is capable to improve its economic, political, and social welfare. Pdf framework for managing urban and regional economic. A guide to local and regional recovery and reimagination. America for a dialogue and comparison of the stateoftheart of urban and regional economic development theory, evidence and policy. Regional economic modeling washington state university. Meanwhile, the city of milwaukee knew that a regional economy works best if its core city and its residents are also thriving. Adb working paper series on regional economic integration.
Nowadays in the regional science this term is often used by the academician, policymakers and regional development agency people to indicate the growth of a region. We will use this analysis to determine what factors have the greatest effect on economic development outcomes. 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. Technology, innovation, and regional economic development. Effective management of risk events in local governments and communities is important to ensuring the sustainability of local economic development led. Economic development reference guide acknowledgements verizon verizons mission is to open doors for economic development and to build relationships and partnerships that help create and retain jobs in verizon communities. Place leadership and regional economic development. Regional development may be domestic or international in nature. Towards the end of the 1990s, and in response to increasing global condemnation, the mining industry adopted sustainable development sd principles and standards through corporate social responsibility csr initiatives. An extensive internet search was conducted to determine the state of the art in performance measurement in economic development in the us and elsewhere. Economic research and statistics division regional integration in africa trudi hartzenberg trade law centre for southern africa tralac manuscript date. This dissertation will focus primarily on the economic aspects of regional integration, and the importance of regional economic integration to africa. Capital grant funding is available for capitalbased economic development projects intended to create or retain jobs. Pdf regional economic development has become a widely popular research subject within economics and economic geography.
Regional and urban economics and economic development. Mining enterprises and regional economic development. These economic development organizations function as individual entities and in some cases as departments. The first is related to the long development cycle in the economic structure. The recognized purpose of any development is social investment. In the past, regional development policy tended to try to achieve these objectives by means of largescale infrastructure development and by attracting inward. Regional economic development red grants applications for round three of the regional economic development grants red grants program are now open and close on 7 july 2020. The paper elaborates upon various theories to explain economic development and restructuring in the forested regions of advanced countries. Trends in regional economic growth theory regional development covers a wide range of economic policy issues related to the need to exploit appropriate productive resources that may contribute or form an impediment to the welfare of a region in either an absolute or a relative sense. Case studies of regional economic development approaches. This paper represents the opinions of the author, and is the product of professional research. Creating a robust economic development strategy often takes a concerted effort of multiple partners coming together around a common goal. Regional economic development red procedures handbook. New jobs are the lifeblood of any thriving region and can ensure economic health and prosperity for years to come.
This publication is the result of a study carried out by the oecd local economic and employment development leed programme between july and december 1998 on good practices and transferability in local development policy in less developed regions. It makes use of regional economic development issues, and does so in recognition of both the critical role of economics in shaping city and regional futures, and the search by many researchers to understand better the social and institutional dimensions of regional growth. Why regional development matters for europes economic future. Pdf we discuss the origins and key features of the main regional economic development strategies common to practice in developed. It promotes a common understanding for considering regional issues, challenges and opportunities through reliable information and comprehensive analysis. The cfa allows applicants to be considered for multiple sources of funding for a project by filling out just one application. Economic development for a growing economy edge tax creditnon resident facts. Remaking economic development 5 development system includes a wide range of policies and strategies that enable industries, workers, and communities to contribute productively to the economy. Regional economic development in theory and practice. Regional economic development strategies nsw department.
Daniela antonescu institute of national economy abstract. Army engineer institute for water resources page iv executive summary ec 11052409, planning in a collaborative environment ec 409, greatly increases the emphasis and potential application of the regional economic development red. First, the book provides the reader with an overview of key theoretical and conceptual contexts within which the economic development process takes place. Issues and realities 41st isocarp congress 2005 3 examination of a number of physical, social, economic and environmental aspects of the building site and the neighboring sites. Regional economic development is a new portfolio and we are keen to discuss your views on how to invest in regional economic development. The regional economic development guide the guide has been developed as a tool for generating ideas and initiatives to promote development within australias regions. The implications and scope of regional development may therefore vary in accordance with the definition of a region, and how the region and its boundaries are perceived internally and externally. Economic development is the sustained increase in income of all members of society so as to be free from material want. Regional economic development guide regional australia. Downloads indiana economic development corporation. Economic development practitioners generally work in public offices on the state, regional, or municipal level, or in publicprivate partnerships organizations that may be partially funded by local, regional, state, or federal tax money. Concept of regional development and its measurements development is a dynamic concept. Region nine development commission meets on the second wednesday of each month. Factors that influence the economic development of a country.
Regional economic development has traditionally been about natural resources and infrastructure. South africas national development plan and its implications for regional development by harry zarenda introduction in 201220, the african national congress and south african government adopted the national development plan ndp as its launchpad and blueprint for a future economic and socioeconomic development strategy for the country. The centre for economic and regional development is managing a panel of expert contractors to work in collaboration with councils and local stakeholders to develop regional economic development strategies reds based on the concept of a functional economic region fer. Pdf empirical study on logistics and regional economic. The wny regional economic development strategic plan 2011 is a comprehensive plan developed by the western new york regional economic development council wny redc for allegany, cattaraugus, chautauqua, erie and niagara counties. Africas regional economic communities recs include eight sub regional bodies which are. We start by explaining the rationale for a regional approach to development in a context of growing internationalisation of the world economy.