Revised and Extended Second Edition
Edited by Roberta Capello and Peter Nijkamp
Chapter 30: Economic decline and public intervention: do Special Economic Zones matter?
Following a brief assessment of the ways and extents to which existing economic theories explain the decline of a nation, a region and a city, this chapter highlights the urgent need for more intensive research related to the regional and urban decline process. Backed by the theory of development stages and taking into consideration the economic and structural situation as well as infrastructure endowment, the establishment of a free economic area (FEA) equipped with an appropriate economic policy-mix appears to be one of the effective intervention measures to overcome regional economic decline and to create the nationwide growth externalities. Yet the North Korean experience demonstrates that its success can also strongly depend on some additional factors, such as institutional framework, political control, freedom of decision-making and negotiation, geographic location and competitive environment of FEA.
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