Emerging Issues for Regional Economic Development

Robert Stimson, Roger Stough, Brian Roberts

    Research output: A Conference proceeding or a Chapter in BookChapterpeer-review


    The final chapter of this book canvasses a number of issues that are likely to be
    crucial for the future direction and development of analytical tools and strategies
    for regional economic development. One of the most challenging issues regions
    face in their future economic development is how to ensure more sustainable and
    equitable outcomes and how this will affect the way we think about competitiveness. Another is how to develop and implement strategies for regions to be fast and flexible in creating knowledge and become learning regions by developing competitive industry clusters. Future directions of regional economic strategy will require the development of additional tools to support both analysis of regional economic competitiveness and the management of economic development, including how to manage regional risk.
    The chapter refers to the emerging ‘virtual world’ of economic development as
    we move into a new age where virtual trade, organizational structures and infrastructure will grow in importance. In this context, it will be important that the human dimension of economic development is not lost in the headlong rush to an embrace the virtual world. This raises the question of the digital divide in society, whereby some people and some places are being ‘left out’ of the new information economy, resulting both in increasing gaps between the haves (or wealthy) and the have-nots (or poor) and in an increasing differentiation between those regions that are linked to the global economy and those that are not. The chapter also suggests that the increasingly pervasive paradigm of sustainable development is presenting significant challenges for regions and the actors in the regional development process to address in incorporating sustainability principles within the strategic intent of regional development and planning strategies.
    Original languageEnglish
    Title of host publicationRegional Economic Development: Analysis and Planning Strategy
    EditorsRobert J Stimson, Roger R Stough, Brian H Roberts
    Place of PublicationGermany
    Number of pages30
    ISBN (Electronic)9783540348290
    ISBN (Print)9783540348269
    Publication statusPublished - 2006


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