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Financing the endogenous development at regional and county levels. Particularities, trends and challenges

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  • Zaman, Gheorghe
  • Georgescu, George

Abstract

The paper focuses on the complex dialectics between endogenous and exogenous components of local and territorial economic development, emphasizing the idea of the particular consistency of internal growth factors and the importance, in this context, of financial means for activating the endogenous potential in the case of Romania. The county was considered as statistical observation unit for the period of analysis 2007-2013 and the data were disaggregated on bank loans, FDI, research and development expenditures, European structural and cohesion funds, local budgets expenditures. It was found that the more developed counties have better chances to achieve higher performances of endogenous development. The study highlighted the need of a policy mix that would support the development of counties with a relatively low development level, actually most of them, under the circumstances of a polycentric regional development. An optimal combination between top-down and bottom-up interventions may prove to be the most successful, offering an effective compatibility of decentralization with the coordination and monitoring requirements, supporting the smart specialization at county level, not excluding spillover effects at community and national levels.

Suggested Citation

  • Zaman, Gheorghe & Georgescu, George, 2015. "Financing the endogenous development at regional and county levels. Particularities, trends and challenges," MPRA Paper 62270, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:62270
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    File URL: https://mpra.ub.uni-muenchen.de/62270/1/MPRA_paper_62270.pdf
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    References listed on IDEAS

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    1. Sabine D’Costa & Enrique Garcilazo & Joaquim Oliveira Martins, 2013. "The Impact of Structural and Macroeconomic Factors on Regional Growth," OECD Regional Development Working Papers 2013/11, OECD Publishing.
    2. Roberta Capello & Ugo Fratesi, 2013. "Globalization and Endogenous Regional Growth," Advances in Spatial Science, in: Riccardo Crescenzi & Marco Percoco (ed.), Geography, Institutions and Regional Economic Performance, edition 127, pages 15-37, Springer.
    3. Riccardo Crescenzi & Marco Percoco (ed.), 2013. "Geography, Institutions and Regional Economic Performance," Advances in Spatial Science, Springer, edition 127, number 978-3-642-33395-8, december.
    4. William J. Coffey & Mario Polèse, 1984. "The Concept Of Local Development: A Stages Model Of Endogenous Regional Growth," Papers in Regional Science, Wiley Blackwell, vol. 55(1), pages 1-12, January.
    5. Riccardo Crescenzi & Mara Giua, 2014. "The EU Cohesion policy in context: regional growth and the influence of agricultural and rural development policies," LEQS – LSE 'Europe in Question' Discussion Paper Series 85, European Institute, LSE.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Zaman, Gheorghe & Antonescu, Daniela, 2015. "Endogenous regional growth and foreign trade, in Romania," MPRA Paper 64678, University Library of Munich, Germany.
    2. Daniela Antonescu, 2015. "Theoretical Approaches Of Endogenosu Regional Development," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 75-82, December.

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    More about this item

    Keywords

    regional economics; endogenous development; polycentric regional development; local development; endogenous financial factors;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R50 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - General

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