Chapter 1. Local Economic Development in a Global Market
How Economists View the World
Individual Behavior and Utility Maximization
Ideological Perspectives on Market Operations
Supply, Demand, and Efficiency
Markets Are Not Always Efficient
Economic Development Defined
Local, National, and Global Economic Development
Chapter 2. Business Location, Expansion, and Retention
Transportation Cost Minimizing Models
National Political Climate and Stability
The Decision Making Process
Practical Limitations on the Choice Process
Steps in the Corporate Site Selection Process
Changing Relative Importance of Locational Factors
Surveys of Location Factors
Survey Findings Past to Present
Conducting Business Retention and Expansion Programs
3. Markets, Urban Systems, and Local Development
Demand in a Spatial Setting
Threshold Demand and Range
Determinants of Market Size
The Urban Hierarchy and Urban System
Goods and Services According to Urban Rank
An Evaluation of the Central-Place Approach
Considerations Extraneous to Central-Place Theory
Market Overlap, Rate Absorption, and Price Discrimination
Non-employment Residential Locations and Commuting
Globalization and Urban (City) Systems
How to Measure Areas of Influence
Reilly’s Law of Retail Gravitation
Hinterland Expansion Strategies
4. Economic Interdependence and Local Structure
Internal Agglomeration Economies
Direct Sales Purchases Linkages
Measures of Economic Structure
North American Industrial Classification System (NAICS)
Estimating Export Employment with Location Quotients
Surveys to Determine Export Activities
Coefficients of Specialization
Other Aspects of Regional Structure
5. Regional Growth and Development
Industrial Filtering (Life Cycle Model)
How Do Cities Move from One State to the Next?
Elements of the Circular Flow Model
The Export Base Theory of Growth
How to Operationalize the Export Base Approach
Impact Studies and Export Base Forecasts
Critique of the Export-Base Approach
Exports Not Always Exogenous
Small versus Large Regions
Non-basic Activities May Not Increase
Long-Run Instability of the Multiplier
Land (Environmental Resources)
Supply and Demand Side Approaches: A Synthesis
6. Additional Tools for Regional Analysis
Econometric and Simulation Models
Importance-Strength Analysis
The Table of Direct Coefficients
The Table of Direct and Indirect Coefficients
Input-Output Applications
7. Institutionalist Perspectives on Local Development
External Benefits from Economic Development
Who Benefits From Growth?
Characteristics of Resource Supply
Subsidies, Competition and Economic Development
Is Local Economic Development a Zero Sum Game?
Inefficiency and Oversubsidization
Discretionary versus Entitlement Subsidies
Cost Minimization versus Human Capital Strategies
Social Capital and Economic Development
Generic Economic Problems and Social Capital
Ambiguous Reception of Social Capital
Social Capital and Local Development Strategies
Using Social Capital to Mitigate Economic Development Conflicts
Social Network Analysis: Getting the Right People to the Table
Targeting Development Efforts
Cluster-Based Economic Development
8. Local Economic Development in a Flattening World
Models of Trade and Resource Flows
Retiree-Migrant Development Strategy
Implications for Regional Development
Mobility and Development Policy
Jobs-to-People versus People-to-Jobs
Immigration and Urban Development
9. Land Use
The Nature of Rent, Productivity and Access
The Land Development Process
Environmental Impact Statements
Implications of Financial Analysis for LED
The Monocentric City Model
Roads and Axial Development
Agglomeration and the Multiple-Nuclear City
Changing Land Use Patterns
Evaluating Metropolitan Spread (Urban Sprawl)
Land Use and Economic Development Tools
Flexibility and Land Use Regulations
The Eminent Domain Controversy
Rights to Land and Economic Development
10. Housing and Neighborhood Development
Fundamentals of Housing Economics
Uncertainty, Market Imperfections, and Competition
Residential Location and Neighborhood Change
The Filtering-Down Theory
The Cultural Agglomeration Model
The Aggregate Economic Fallout Model
Initiating and Perpetuating the Change Process
Rent Control versus Market Forces
Income Support versus Housing Assistance
Supply versus Demand Side Assistance
Ghetto Dispersal versus Ghetto Improvement
Dwelling-Unit versus Neighborhood Development
Linkage Between Local Housing and Global Financial Markets
Retail and Commercial Neighborhoods
The Social Economy of Neighborhoods
Community Development Corporations
11. Poverty and Lagging Regions
Conceptual Approaches
Spatial Concentrations of Urban Poverty
Regional Linkages: The Spread and Backwash Effects
Empirical Studies of Spatial Linkages
Spatial Linkages and Theories of Spatial Poverty
Addressing Wage Rigidities
Employment Guarantee Schemes in India
12. Local Governance, Finance, and Regional Integration
Spatial Perspectives on Government Functions
Distribution and the Race to the Bottom
Public Transportation – An Example
Size and Scope of Local Governments
Economies and Diseconomies of Scale
Improving Government Efficiency
Local Taxation and Economic Development
Intergovernmental Competition
Intergovernmental Grants and Coordination
Market Based Reforms in Education
Fiscal Impact and Benefit-Cost Studies
13. Local Economic Development Planning
The Future and Local Development
Concern with Values and Attitudes
Planning Perspectives on Development Policy
Planning and Future Studies Tools
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