Abstract
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.
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 language | English |
|---|---|
| Title of host publication | Regional Economic Development: Analysis and Planning Strategy |
| Editors | Robert J Stimson, Roger R Stough, Brian H Roberts |
| Place of Publication | Germany |
| Publisher | Springer |
| Pages | 385-414 |
| Number of pages | 30 |
| Edition | 2 |
| ISBN (Electronic) | 9783540348290 |
| ISBN (Print) | 9783540348269 |
| DOIs | |
| Publication status | Published - 2006 |
