Introduction to Regional Economic Development

Introduction to Regional Economic Development

Major Theories and Basic Analytical Tools

Mustafa Dinc

This is a relatively simple and easy to read introduction of major regional and local economic development theories, their theoretical evolution and other relevant topics such as governance, institutions and local leadership within the globalization context. It also discusses some basic analytical tools and provides a template for them in an easy to use MS Excel spreadsheet application. It introduces conflict management procedures into regional development process and provides a regional decision support framework.

Chapter 5: Traditional regional economic development theories

Mustafa Dinc

Subjects: economics and finance, regional economics, urban and regional studies, regional economics


Over the years a number of local and regional development theories have been developed and discussed in great detail. Some of them survived and evolved into new forms to address the current problems of local and regional economies, while others lost their initial fervor and are almost forgotten. This chapter reviews major local and regional development theories from their origins and early applications to avoid any misinterpretation and misunderstanding. The location theory, growth pole theory, economic base theory, cumulative causation theory and product/regional life cycle theory are discussed in this chapter.

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