The UK Regional-National Economic Problem


Book Description

In recent years, the United Kingdom has become a more and more divided society with inequality between the regions as marked as it has ever been. In a landmark analysis of the current state of Britain’s regional development, Philip McCann utilises current statistics, examines historical trends and makes pertinent international comparisons to assess the state of the nation. The UK Regional–National Economic Problem brings attention to the highly centralised, top down governance structure that the UK deploys, and demonstrates that it is less than ideally placed to rectify these inequalities. The ‘North-South’ divide in the UK has never been greater and the rising inequalities are evident in almost all aspects of the economy including productivity, incomes, employment status and wealth. Whilst the traditional economic dominance of London and its hinterland has continued along with relative resilience in the South West of England and Scotland, in contrast the Midlands, the North of England, Northern Ireland and Wales lag behind by most measures of prosperity. This inequality is greatly limiting national economic performance and the fact that Britain has a below average standard of living by European and OECD terms has been ignored. The UK’s economic and governance inequality is unlikely to be fundamentally rebalanced by the current governance and connectivity trends, although this definitive study suggests that some areas of improvement are possible if they are well implemented. This pivotal analysis is essential reading for postgraduate students in economics and urban studies as well as researchers and policy makers in local and central government.







Regional Economic Development


Book Description

Regional economic development has attracted the interest of economists, geographers, planners and regional scientists for a long time. And, of course, it is a field that has developed a large practitioner cohort in government and business agencies from the national down to the state and local levels. In planning for cities and regions, both large and small, economic development issues now tend to be integrated into strategic planning processes. For at least the last 50 years, scholars from various disciplines have theorised about the nature of regional economic development, developing a range of models seeking to explain the process of regional economic development, and why it is that regions vary so much in their economic structure and performance and how these aspects of a region can change dramatically over time. Regional scientists in particular have developed a comprehensive tool-kit of methodologies to measure and monitor regional economic characteristics such as industry sectors, employment, income, value of production, investment, and the like, using both quantitative and qualitative methods of analysis, and focusing on both static and dynamic analysis. The 'father of regional science', Walter lsard, was the first to put together a comprehensive volume on techniques of regional analysis (Isard 1960), and since then a huge literature has emerged, including the many titles in the series published by Springer in which this book is published.




Cities and Regions in Crisis


Book Description

This book offers a new geographical political economy approach to our understanding of regional and local economic development in Western Europe over the last twenty years. It suggests that governance failure is occurring at a variety of spatial scales and an ‘impedimenta state’ is emerging. This is derived from the state responding to state intervention and economic development that has become irrational, ambivalent and disoriented. The book blends theoretical approaches to crisis and contradiction theory with empirical examples from cities and regions.




Economic Crisis and the Resilience of Regions


Book Description

The economic crisis of 2008-9 heralded the most severe economic downturn in the history of the European Union. Yet not all regions experienced economic decline and rates of recovery have varied greatly. This has raised new questions about what factors influence the economic resilience of regions. This book presents the results of an Applied Research Project conducted within the ESPON 2013 Programme and provides a detailed analysis of what made some European regions more resilient to the crisis than others.




Debate the Issues: New Approaches to Economic Challenges


Book Description

To capitalise on the new international resolve epitomised by COP21 and the agreement on the universal Sustainable Development Goals (SDGs) requires a renewed effort to promote new policy thinking and new approaches to the great challenges ahead. Responding to new challenges means we have to adopt more ambitious frameworks, design more effective tools, and propose more precise policies that will take account of the complex and multidimensional nature of the challenges. The goal is to develop a better sense of how economies really work and to articulate strategies which reflect this understanding. The OECD’s New Approaches to Economic Challenges (NAEC) exercise challenges our assumptions and our understanding about the workings of the economy. This collection from OECD Insights summarises opinions from inside and outside the Organisation on how NAEC can contribute to achieving the SDGs, and describes how the OECD is placing its statistical, monitoring and analytical capacities at the service of the international community. The authors also consider the transformation of the world economy that will be needed and the long-term “tectonic shifts” that are affecting people, the planet, global productivity, and institutions.




The Cross-Country Incidence of the Global Crisis


Book Description

We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of development, increases in the ratio of private credit to GDP, current account deficits, and openness to trade are helpful in understanding the intensity of the crisis. International risk sharing did little to shield domestic demand from the country-specific component of output declines, while those countries with large pre-crisis current account deficits saw domestic demand fall by much more than domestic output during the crisis.




Economics and National Security


Book Description

Contents: (1) National Security (NS) and the Congressional Interest; 21st Century Challenges to NS; (2) The Role of the Economy in U.S. NS; Macroecon. and Microecon. Issues in NS; (3) Economic Growth and Broad Conceptions of NS: Human Capital; Research, Innovation, Energy, and Space; (4) Globalization, Trade, Finance, and the G-20; Instability in the Global Economy; Savings and Exports; Boosting Domestic Demand Abroad; Open Foreign Markets to U.S. Products and Services; Build Cooperation with International Partners; Deterring Threats to the International Financial System; (5) Democracy, Human Rights, and Development Aid; Sustainable Development. Charts and tables. This is a print on demand publication.




Growth and Innovation of Competitive Regions


Book Description

Time Time b a Space Space Time Time c d Space Space Fig. 1 Different possible scales for growth and innovation analyses spatial dimension, the sectoral dimension and the time dimension are represented. In Fig. 1a, regional developmentanalyses are revealed, where the economyis sliced vertically into regions and their dynamics are investigated. The study of the evolution of industries, typical of evolutionary industrial e- nomics, is represented in Fig. 1b, where the economy is divided horizontally into sectoral slices. This approach has progressed considerably in recent years (see Malerba 2006, for a recent survey). Modi?cations of industries have important spatial implications, which however are not normally at the core of these ana- ses even though spatial patterns of innovation differ greatly from sector to sector (Breschi 2000). Our approach operates in the manner of Fig. 1a and we will focus on regions, extending the analysis to industries only where this is regionally and structurally relevant. Hence, the approach in the book belongs to the tradition of regional development theories, but, in contrast to the more traditional analyses, we will not consider the region as an economic unit per se. Rather, interactions between and within regions are very relevant to the performance of individual regions in an integrated world and will be at the core of the analyses of the following chapters.




Open and Nimble


Book Description

Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.