Handbook of Regional Growth and Development Theories
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Handbook of Regional Growth and Development Theories

Revised and Extended Second Edition

Edited by Roberta Capello and Peter Nijkamp

Regional economics – an established discipline for several decades – has undergone a period of rapid change in the last ten years resulting in the emergence of several new perspectives. At the same time the methodology of regional economics has also experienced some surprising developments. This fully revised and updated Handbook brings together contributions looking at new pathways in regional economics, written by many well-known international scholars. The aim is to present the most cutting-edge theories explaining regional growth and local development. The authors highlight the recent advances in theories, the normative potentialities of these theories and the cross-fertilization of ideas between regional and mainstream economists. It will be an essential source of reference and information for both scholars and students in the field.
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Chapter 29: The regional adjustment model: an instrument of evidence-based policy

John I. Carruthers and Gordon F. Mulligan

Abstract

The lack of scientific evidence in urban and regional policymaking is problematic: in order for policy to be credible it must be guided by evidence, not ideology. Benefit–cost analysis has long been the workhorse of policy analysis, but other methods are needed too. This chapter advances one method – the regional adjustment model – and explains how it has been applied within and among regions. Along the way, it delivers an empirical example, by applying the framework to growth and development within the American constellation of metropolitan areas. The chapter concludes that regional adjustment models ought to be used as an instrument of evidence-based policy to address questions related to anthropogenic climate change.

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