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Two. Theories of Local Development

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Renewing Cities
This chapter is in the book Renewing Cities
Two Theories of Local Development Introduction There is much discussion among political scientists and economists regarding when and whether public and other forms of intervention matter in local economic development. Various political and eco­nomic theories relevant to local development practice will be re­viewed with illustrative reference to the development experiences in the four study cities. This will provide the theoretical foundation for subsequent chapters. The different economic and political theories will be applied in the city development analyses to gain insight into how local initiatives influence local economic performance. Economists and political scientists have much to contribute to our understanding of local economic development, and together they suggest fruitful lines of interdisciplinary inquiry. Each of the disci­plines focuses on particular aspects of local economic development. Political scientists are most concerned with how local development policies are made, who has the power to make decisions, and how the benefits from development are distributed. Economists focus on the economic effects of local development efforts and the limits thereof, including the influence of national and regional economic and industrial changes on local growth, the effect of local develop­ment initiatives on business location, and the aggregate (macro-economic) effect of initiatives by individual cities to improve their economies.1 Economic Theories of Local Development A variety of static and dynamic economic theories of urban and re­gional growth and change have been applied in analysis of local de­velopment. Static models are particularly useful at identifying the influence on local economies of national, regional, and industry changes and competition among localities. Dynamic models provide insights into the internal dynamics of local economies, help explain turning points in local economies, and suggest why local economies diverge from national, regional, and industry trends.

Two Theories of Local Development Introduction There is much discussion among political scientists and economists regarding when and whether public and other forms of intervention matter in local economic development. Various political and eco­nomic theories relevant to local development practice will be re­viewed with illustrative reference to the development experiences in the four study cities. This will provide the theoretical foundation for subsequent chapters. The different economic and political theories will be applied in the city development analyses to gain insight into how local initiatives influence local economic performance. Economists and political scientists have much to contribute to our understanding of local economic development, and together they suggest fruitful lines of interdisciplinary inquiry. Each of the disci­plines focuses on particular aspects of local economic development. Political scientists are most concerned with how local development policies are made, who has the power to make decisions, and how the benefits from development are distributed. Economists focus on the economic effects of local development efforts and the limits thereof, including the influence of national and regional economic and industrial changes on local growth, the effect of local develop­ment initiatives on business location, and the aggregate (macro-economic) effect of initiatives by individual cities to improve their economies.1 Economic Theories of Local Development A variety of static and dynamic economic theories of urban and re­gional growth and change have been applied in analysis of local de­velopment. Static models are particularly useful at identifying the influence on local economies of national, regional, and industry changes and competition among localities. Dynamic models provide insights into the internal dynamics of local economies, help explain turning points in local economies, and suggest why local economies diverge from national, regional, and industry trends.

Chapters in this book

  1. Frontmatter i
  2. Contents v
  3. Figures and Tables vii
  4. Acknowledgments ix
  5. One. Renewing Industrial Cities 3
  6. Two. Theories of Local Development 19
  7. Three. Growth and Decline in Four Cities 37
  8. Four. Lowell: Successful Revitalization 65
  9. Five. New Bedford: Extended Decline 94
  10. Six. Jamestown: Attempted Preservation 115
  11. Seven. McKeesport: Decline and Struggle 134
  12. Eight. Critical Factors in City Revitalization 157
  13. Nine. The Renewal Process 180
  14. Epilogue 193
  15. Notes 195
  16. Bibliography 217
  17. Index 225
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https://doi.org/10.1515/9781400863099.19

Chapters in this book

  1. Frontmatter i
  2. Contents v
  3. Figures and Tables vii
  4. Acknowledgments ix
  5. One. Renewing Industrial Cities 3
  6. Two. Theories of Local Development 19
  7. Three. Growth and Decline in Four Cities 37
  8. Four. Lowell: Successful Revitalization 65
  9. Five. New Bedford: Extended Decline 94
  10. Six. Jamestown: Attempted Preservation 115
  11. Seven. McKeesport: Decline and Struggle 134
  12. Eight. Critical Factors in City Revitalization 157
  13. Nine. The Renewal Process 180
  14. Epilogue 193
  15. Notes 195
  16. Bibliography 217
  17. Index 225
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