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Models of Regional Economic Development: Illustrations Using U.S. Data

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  • Buchholz Maximilian

    (University of TorontoDepartment of Geography & PlanningSidney Smith Hall, 100 St. George Street, ON, M5S 3G3TorontoCanada)

  • Bathelt Harald

    (University of TorontoDepartment of Geography & PlanningSidney Smith Hall, 100 St. George Street, ON, M5S 3G3TorontoCanada)

Abstract

Considering stagnating regional prosperity levels and growing inter-regional disparities in many economies, this paper appeals for a renewed research agenda to deepen our understanding of regional economic development. This is done by discussing different conceptual perspectives, their empirical applications and open questions and suggestions for future research. Conventional approaches view development as an outcome of and dependent upon local economic structure. That is, high regional performance is associated with specific regional industrial and human capital mixes. We argue that to deepen our understanding of the mechanisms that drive regional economic development it is helpful to apply a relational approach that pays attention to the networks between economic actors across different spatial scales, from local to global. These generate knowledge as well as access to technologies, resources and markets, thereby catalyzing income growth. To support regional policy agendas, it is further necessary to go beyond identifying regularities that structure development and engage with differing regional pathways by conducting systematic comparative analyses of local contextual and institutional conditions.

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  • Buchholz Maximilian & Bathelt Harald, 2021. "Models of Regional Economic Development: Illustrations Using U.S. Data," ZFW – Advances in Economic Geography, De Gruyter, vol. 65(1), pages 28-42, March.
    • Handle: RePEc:bpj:zfwige:v:65:y:2021:i:1:p:28-42:n:3
    DOI: 10.1515/zfw-2020-0040
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    More about this item

    Keywords

    geographical context; industrial structure; human capital; relational perspective; regional economic development; United States;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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