Local Economic Development Analysis Practices and Globalization 2nd edition by John Blair, Michael Charles Carroll ISBN 1412964830 978-1412964838

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ISBN 10: 1412964830
ISBN 13: 978-1412964838
Author:  John Blair, Michael Charles Carroll 

Local economies are the building blocks for national ones. An updated and expansive core text, the Second Edition of Local Economic Development: Analysis, Practices, and Globalization provides a comprehensive introduction to the economics of local economic development. Delving into cutting-edge topics such as cluster analysis, creative class orientation, competitive advantage, social capital, business expansion and retention, and learning regions, this clearly written interdisciplinary text connects theories with real-life examples and offers the reader pragmatic tools for future application, including a valuable “how-to” understanding regarding important qualitative tools and their interpretation.

Local Economic Development Analysis Practices and Globalization 2nd Table of contents:

1. Local Economic Development in a Global Market

How Economists View the World

Models and Assumptions

Individual Behavior and Utility Maximization

Ideological Perspectives on Market Operations

How Markets Work

Supply and Demand

Supply, Demand, and Efficiency

Markets Are Not Always Efficient

The Role of Profits

Economic Development Defined

Careers in LED

The Nature of Regions

Types of Regions

Local, National, and Global Economic Development

Summary

2. Business Location, Expansion, and Retention

Location Factors

Inertia

Transportation–Cost-Minimizing Models

Production Costs

National Political Climate and Stability

Opportunity Creation

The Decision-Making Process

Motivations

Practical Limitations on the Choice Process

Steps in the Corporate Site Selection Process

Changing Relative Importance of Location Factors

Surveys of Location Factors

Survey Findings Past to Present

Conducting Business Retention and Expansion Programs

Summary

3. Markets, Urban Systems, and Local Development

Demand and Market Areas

Demand in a Spatial Setting

Competition for Markets

Threshold Demand and Range

Determinants of Market Size

The Urban Hierarchy and Urban System

Central Places

Goods and Services According to Urban Rank

Changing Urban Patterns

An Evaluation of the Central-Place Approach

Considerations Extraneous to Central-Place Theory

Empirical Evidence

Globalization and Urban (City) Systems

How to Measure Areas of Influence

Survey Techniques

Reilly’s Law of Retail Gravitation

Probabilistic Models

Retail Spending

An Example

Hinterland Expansion Strategies

Summary

4. Economic Interdependence and Local Structure

Agglomeration Economies

Internal Agglomeration Economies

Direct Sale/Purchase Linkages

Localization Economies

Urbanization Economies

Recap

Cluster Analysis

Measures of Economic Structure

North American Industrial Classification System (NAICS)

Location Quotients

Estimating Export Employment With Location Quotients

Surveys to Determine Export Activities

Coefficients of Specialization

Occupational Structure

Other Aspects of Regional Structure

Summary

5. Regional Growth and Development

Stages of Growth

Industrial Filtering (Life Cycle Model)

Adding New Work to Old

How Do Cities Move from One State to the Next?

Circular Flow Diagram

Elements of the Circular Flow Model

Equilibrium and Change

The Multiplier

The Export Base Theory of Growth

The Formal Income Model

How to Operationalize the Export Base Approach

Impact Studies and Export Base Forecasts

Critique of the Export Base Approach

Primacy of Exports

Import Substitution

Productivity

Exports Not Always Exogenous

Small Versus Large Regions

Feedbacks Among Regions

Nonbasic Activities May Not Increase

Long-Run Instability of the Multiplier

Excessive Aggregation

Supply-Side Approaches

Intermediate Inputs

Entrepreneurship

Capital

Land (Environmental Resources)

Labor

Supply- and Demand-Side Approaches: A Synthesis

Summary

6. Additional Tools for Regional Analysis

Shift-and-Share Analysis

An Application

Critique

Econometric and Simulation Models

Econometric Models

Caveats

Importance-Strength Analysis

Input-Output Analysis

The Transactions Table

The Table of Direct Coefficients

The Table of Direct and Indirect Coefficients

Input-Output Applications

Summary

7. Institutionalist Perspectives on Local Development

External Benefits from Economic Development

Job and Income Creation

Fiscal Improvement

Physical Improvements

Who Benefits From Growth?

Characteristics of Resource Supply

Opponents of Growth

Subsidies, Competition, and Economic Development

Is Local Economic Development a Zero-Sum Game?

Inefficiency and Oversubsidization

Discretionary Versus Entitlement Subsidies

Cost Minimization Versus Human Capital Strategies

Social Capital and Economic Development

Generic Economic Problems and Social Capital

Ambiguous Reception of Social Capital

Social Capital and Local Development Strategies

Using Social Capital to Mitigate Economic Development Conflicts

Social Network Analysis: Getting the Right People to the Table

Targeting Development Efforts

Cluster-Based Economic Development

Summary

8. Local Economic Development in a Flattening World

Models of Trade and Resource Flows

Comparative Advantage

Resource Mobility

Economics of Migration

Nonwage Factors

Gravity Models

Beaten-Path Effect and Intervening Opportunities

Net and Gross Migration

Retiree-Migrant Development Strategy

Mobility of Capital

Innovations and Ideas

Spatial Diffusion

Implications for Regional Development

Mobility and Development Policy

Jobs-to-People Versus People-to-Jobs

Immigration and Urban Development

Summary

9. Land Use

What Gives Land Value?

Land Rents and Value

The Nature of Rent, Productivity, and Access

Highest and Best Use

The Land Development Process

Developer Goals

The Market Study

Environmental Impact Statements

Profit Feasibility

The Development Decision

Implications of Financial Analysis for LED Officials

Land-Use Patterns

The Monocentric City Model

The Density Gradient

Roads and Axial Development

Agglomeration and the Multiple-Nuclear City

Speculation

Zones of Transition

The Spreading of the Metropolis

Evaluating Metropolitan Spread (Urban Sprawl)

Land Use and Economic Development Tools

Zoning and Its Critics

Flexibility and Land-Use Regulations

The Eminent Domain Controversy

Rights to Land and Economic Development

Summary

10. Housing and Neighborhood Development

Fundamentals of Housing Economics

Hedonic Pricing

Uncertainty, Market Imperfections, and Competition

Residential Location and Neighborhood Change

The Filtering-Down Theory

The Trade-Off Model

The Cultural Agglomeration Model

The Tiebout Model

The Aggregate Economic Fallout Model

Initiating and Perpetuating the Change Process

Housing Policy Issues

Rent Control Versus Market Forces

Income Support Versus Housing Assistance

Supply- Versus Demand-Side Assistance

Ghetto Dispersal Versus Ghetto Improvement

Dwelling Unit Versus Neighborhood Development

Linkage Between Local Housing and Global Financial Markets

Retail and Commercial Neighborhoods

The Social Economy of Neighborhoods

Community Development Corporations

Cooperatives

Community Gardens

Summary

11. Poverty and Lagging Regions

The Nature of Poverty

Conceptual Approaches

Demographics of Poverty

Spatial Concentrations of Urban Poverty

Regional Linkages: The Spread and Backwash Effects

Empirical Studies of Spatial Linkages

Spatial Linkages and Theories of Spatial Poverty

Policy Issues

Strengthening Linkages

Improving Productivity

Addressing Wage Rigidities

Employment Guarantee Schemes in India

Income Support

Summary

12. Local Governance, Finance, and Regional Integration

Spatial Perspectives on Government Functions

Distribution and the Race to the Bottom

Local Allocation

Public Transportation: An Example

Size and Scope of Local Governments

Economies and Diseconomies of Scale

Decision-Making Costs

Improving Government Efficiency

Using Prices and Fees

Local Taxation and Economic Development

Accountability

Intergovernmental Competition

Intergovernmental Grants and Coordination

Rearranging Functions

Privatization

Market-Based Reforms in Education

Fiscal Impact and Benefit-Cost Studies

Fiscal Impact Studies

Benefit-Cost Analysis

Summary

13. Planning, Future Studies, and Development Policy

The Future and Local Development

Concern with Values and Attitudes

Technological Change

Systems Orientation

Importance of Timing

Planning Perspectives on LED

The Planning Process

Limits of Planning

Planning and Future Studies Tools

Delphi Forecasting

Games

Scenarios

Environmental Scanning

Summary

References

Index

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Tags: John Blair, Michael Charles Carroll, Local Economic, Analysis Practices