Directions for the Sustainable Development and Competitiveness of Regions
New Horizons in Regional Science series
Edited by Charlie Karlsson, Börje Johansson and Roger R. Stough
Chapter 1: Entrepreneurship, social capital, governance and regional economic development: an introduction
The purpose of this book is to highlight the role of entrepreneurship, social capital and governance for regional economic development. Regional economic development is a multidimensional phenomenon, which has stimulated various authors to come up with their own definitions. In this introductory chapter we use the definition suggested by Stimson et al. (2006, 6): ‘Regional economic development is the application of economic processes and resources available to a region that results in the sustainable development of, and desired outcomes for, a region and that meet the values and expectations of business, of residents and of visitors.’ As all the other definitions of regional economic development in the literature, this definition is not perfect but it assists in the search for the role of entrepreneurship, social capital and governance as factors that underlie and drive the processes that support the sustainable development and competitiveness of regions. The strong relationship between regional economic development and entrepreneurship, social capital and governance, respectively, is clearly illustrated by Google Scholar, which on 20 September 2011, generated between 10 000 and 15 000 hits for each of the three combinations of these concepts.