Chapter 5: Traditional regional economic development theories
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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