Transcription of Regional Economic Development: A Review
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WP1/03 SEARCH WORKING PAPERR egional Economic Development: Andrea Ascani, Riccardo Crescenzi, Simona IammarinoJanuary 2012A Review Regional Economic Development: A Review Andrea Ascani, Riccardo Crescenzi, Simona Iammarino Department of Geography and Environment London School of Economics and Political Science Email: Abstract This Review offers an analysis of the main concepts explored in the Regional and local Economic development literature. We start by explaining the rationale for a Regional approach to development in a context of growing internationalisation of the world economy. Therefore, the relevance of local social and institutional characteristics is discussed by arguing that favourable conditions for development are the result of a highly context specific combination of rules, norms and social relations which encourage and facilitate knowledge diffusion and exploitation mostly on a localised basis.
regional economic success in an era of global economic expansion. In general,the importance of local specificities has increased rather than being marginalised in a context of increasing globalisation and functional economic integration (Storper, 1995): development processes unfold at the local level and globalisation reinforces such patterns.
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