Virtual communities of enterprise value creation potential for regional clusters

The research examines regionally networked small business practices. A new concept Virtual Communities of Enterprise is proferred to explain the nature of knowledge sharing both interpersonally and online, and its potential for creating value for small businesses and their regions. Social capital emerges as an essential pre-requisite for accessing value.

Are state–local government expenditures converging? New evidence based on sequential unit root tests

Large and persistent gaps in subnational public expenditure have important implications regarding growth, equity, and migration. In this context, we revisit the question of expenditure convergence across the American states to provide more nuanced evidence than found by a small number of previous studies. We employ a methodology due to Smeekes (Bootstrap sequential tests to determine the stationary units in a panel, 2011) that sequentially tests for unit roots in pairwise (real per capita) expenditure gaps based on user specified fractions. In a panel of 48 combined state–local government units (1957–2008), we found that expenditures on highways, sanitation, utility, and education were far more convergent than expenditures on health and hospitals, police and fire protection, and public welfare. There was little evidence of “club convergence” based on the proportion of intraregional convergent pairs. Several historically high-grant receiving states showed relatively strong evidence of convergence. Our results bode well for future output convergence and opportunities for Tiebout-type migration across jurisdictions. They also imply a diminished role for public infrastructure and education spending in business location choices over time and a mixed role for federal grants in inducing convergence.

Exports, Inward Foreign Direct Investment (FDI) and Regional Economic Growth in China

The relationship between exports and economic growth is strong in developing economies. Both externality effects of exports on the non-exports sector and higher marginal productivity in the exports sector in relation to the non-exports sector play an important role in promoting exports and GDP growth. The underlying theoretical model of FEDER, 1982, is used with the data on the Chinese provinces and it is shown that the economic structure, degree of openness and policy environment have a significant role in the relationship between exports and economic growth.

Producing a GIS based multiple criteria analysis tool for regional sustainability assessment: the problem of weighting

Decision support tools will be useful in guiding regions to sustainability. These need to be simple but effective at identifying, for regional managers, areas most in need of initiatives to progress sustainability. Multiple criteria analysis (MCA) is often used as a decision support tool for a wide range of applications. This method allows many criteria to be considered at one time. It does this by giving a ranking of possible options based on how closely each option meets the criteria. Thus, it is suited to the assessment of regional sustainability as it can consider a number of indicators simultaneously and demonstrates how sustainability can vary at small scales across the region. Coupling MCA with GIS to produce maps, allows this analysis to become visual giving the manager a picture of sustainability across the region. To do this each indicator is standardised to a common scale so that it can be compared to other indicators. A weighting is then applied to each indicator to calculate weighted summation for each area in the region. This paper argues that this is the critical step in developing a useful decision support tool. A study being conducted in south west Victoria demonstrates that the weights chosen can have a dramatic impact on the results of the sustainability assessment. It is therefore imperative that careful consideration be given to determining indicator weights in a way that is objective and fully considers the impact of that indicator on regional sustainability.

Creative economy strategies for regional cities: the case of Geelong, Australia

Creative economy approaches to regional development are gaining increased favor from policy makers as there is a shift towards a more wholistic approach to development. By fostering a creative economy a region may benefit not only in purely economic terms, but also become more enriched socially and culturally. Using the regional city of Geelong as a case in focus, the presentation will explore strategies that both harness existing creative capacity through the arts and cultural production and also to further expand and intergeate creative enterprise into the local economy. As regional centers like Geelong continue to grow the need to ensure appropriate development that is both sustainable and enriching to improve residents quality of life becomes paramount.