Contemporary Issues in Urban and Regional Economics

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Nova Publishers, 2005 - Business & Economics - 185 pages
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If all politics are local, then all economics are regional and local. Globalisation, for all its mystery and so-called inevitability, has its foundations and bloodlines in urban and regional economics. The economic impacts of poverty, housing, transportation, education, and crime are included. This new book includes within its scope: multiplier and impact analysis, input-output models, growth theory, migration, urban and regional labour markets, urban and regional public policy, regional devolution, small firms policy, and foreign direct investment.

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Page 7 - Positive feedback economics may also find parallels in non-linear physics. For example, ferromagnetic materials consist of mutually reinforcing elements. Small perturbations, at critical times, influence which outcome is selected (bifurcation point), and the chosen outcome may have higher energy (that is, be less favourable) than other possible end states (Arthur, 1990, p. 99).
Page 7 - Murphy et al. (1989) discuss multiple equilibria with respect to the process of industrialisation, postulating that a certain critical mass of industries may have to be involved in order for industrialisation to be successful. A parallel could be drawn with location theory, and a role for government policy to aid the 'take- off of a particular location, and encourage firms to move to the location.

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