An introduction to place-based development economics and policy [electronic resource] / Gilberto Seravalli.

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An introduction to place-based development economics and policy [electronic resource] / Gilberto Seravalli.

9783319153773 electronic book
3319153773 electronic book
9783319153766

Cham [Switzerland] : Springer, [2015]

English

1 online resource.

HD87 .S47 2015eb

338.9

This book introduces the reader to local development economics and policy, with a special focus on the place-based paradigm that covers its justification, its difficulties and the types of public intervention that it suggests. The starting point for the analysis is that economic development in lagging places is not to be expected as the result of a mechanism of automatic convergence between backward and advanced regions and that, therefore, the most appropriate development policy is not to maximize competition among all agents in all sectors and places. The failure of the Washington Consensus is examined, and the two competing positions to have emerged from this failure ℓ́ℓ spatially blind interventions and place-based policies ℓ́ℓ are contrasted. The main shortcoming of spatially blind policies, namely that immobile resources that could trigger or support a development process often remain untapped or ℓ́ℓtrappedℓ́ℓ, is emphasized. The limitations of the ℓ́ℓbig pushℓ́ℓ state intervention and wage flexibility solutions to this trap are analyzed and the merits of place-based policies that support intervention and can deal with uncertainty, risk and conflict are discussed.

Includes bibliographical references.

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