Regional benchmarking in a global context:knowledge, competitiveness, and economic development

Benchmarking exercises have become increasingly popular within the sphere of regional policy making. However, most exercises are restricted to comparing regions within a particular continental bloc or nation.This article introduces the World Knowledge Competitiveness Index (WKCI), which is one of the very few benchmarking exercises established to compare regions across continents.The article discusses the formulation of the WKCI and analyzes the results of the most recent editions.The results suggest that there are significant variations in the knowledge-based regional economic development models at work across the globe. Further analysis also indicates that Silicon Valley, as the highest ranked WKCI region, holds a unique economic position among the globe’s leading regions. However, significant changes in the sources of regional competitiveness are evolving as a result of the emergence of new regional hot spots in Asia. It is concluded that benchmarking is imperative to the learning process of regional policy making.

An assessment of the industry cluster approach as a tool for local economic development:the case of the new media industry in Birmingham

Industry cluster policies are a current trend in local economic development programmes and represent a major shift from traditional approaches. This trend has been coupled by an increasing interest in new media industry as a significant focus for regional development strategies. In England clusters and new media industry have therefore come to be seen as important tools in promoting local and regional economic development. This study aimed to ascertain the success of these policies. In order to achieve the aims of the study, the Birmingham new media industry was chosen for the study. In addition to an extensive review of the literature, semi-structured interviews were conducted with new media firms and Business Support Agencies (BSAs) offering programmes to promote the development of the new media industry cluster. The key findings of the thesis are that the concerns of new media industry when choosing their location do not conform to the industry cluster theory. Moreover, close proximity in geographical location of the industries does not mean there is collaboration and any costs saved as a result of close proximity to similar firms are at present seen as irrelevant because of the type of products they offer. Building trust between firms is the key in developing the new media industry cluster and the BSAs can act as a broker and provide neutral ground to develop it. The key policy recommendations are that new media industry is continually changing and research must continuously track and analyse cluster dynamics in order to be aware of emerging trends and future developments that can positively and negatively affect the cluster. Policy makers need to keep in mind that there is no uniform tool kit to foster the different sectors in cluster development. It is also important for them to be winning support and trust of new media firms since this is key in the success of the cluster. When cluster programs are introduced they must explain their benefits to industries more effectively in order to encourage them to participate in programmes. The general conclusions of the thesis are that clusters are a potentially important tool in local economic development policy and that the new media industry has a considerable growth potential. The kinds of relationships which cluster theory suggests develop between do not, as yet, appear to exist within the new media cluster. There are however, steps that the BSAs can take to encourage their development. Thus, the BSAs need to ensure that they establish an environment that enables growth of the industry.

An examinaton of how British local authorities are employing strategic planning and management in their economic development function

DUE TO COPYRIGHT RESTRICTIONS ONLY AVAILABLE FOR CONSULTATION AT ASTON UNIVERSITY LIBRARY AND INFORMATION SERVICES WITH PRIOR ARRANGEMENT

Local economic development initiatives and the transition from training and enterprise councils to new institutional structures in England

Current British government economic development policy emphasises regional and sub-regional scale, multi-agent initiatives that form part of national frameworks to encourage a 'bottom up' approach to economic development. An emphasis on local multi-agent initiatives was also the mission of Training and Enterprise Councils (TECs). Using new survey evidence this article tracks the progress of a number of initiatives established under the TECs, using the TEC Discretionary Fund as an example. It assesses the ability of successor bodies to be more effective in promoting local economic development. Survey evidence is used to confirm that many projects previously set up by the TECs continue to operate successfully under new partnership arrangements. However as new structures have developed, and policy has become more centralized, it is less likely that similar local initiatives will be developed in future. There is evidence to suggest that with the end of the TECs a gap has emerged in the institutional infrastructure for local economic development, particularly with regard to workforce development. Much will depend in future on how the Regional Development Agencies deploy their growing power and resources.

Place-based economic development strategy in England:filling the missing space

This paper examines the implications of a place-based economic strategy in the context of the UK Coalition government's framework for achieving local growth and the creation of Local Economic Partnerships in England. It draws on the international literature to outline the basic foundations of place-based policy approaches. It explores two key features, particularly as they relate to governance institutions and to the role of knowledge. After examining key concepts in the place-based policy literature, such as 'communities of interest' and 'capital city' and 'local elites', it shows how they might be interpreted in an English policy context. The paper then discusses a place-based approach towards an understanding of the role of knowledge, linked to debates around 'smart specialisation'. In doing so, it shows why there is an important 'missing space' in local growth between the 'national' and the 'local' and how that space might be filled through appropriate governance institutions and policy responses. Overall, the paper outlines what a place-based approach might mean in particular for Central Government, in changing its approach towards sub-national places and for local places, in seeking to realise their own potential. Furthermore, it outlines what the 'missing space' is and how it might be filled, and therefore what a place-based sub-national economic strategy might address. © The Author(s) 2014 Reprints and permissions: sagepub.co.uk/journalsPermissions.nav.

In God we trust: Faith-based development, spiritual transformation, and economic change in southern Andean indigenous communities

In communities throughout the developing world, faith-based organizations (FBOs) focus on goals such as eradicating poverty, bolstering local economies, and fostering community development, while premising their activities and interaction with local communities on theological and religious understandings. Due to their pervasive interaction with participants, the religious ideologies of these FBOs impact the religious, economic, and social realities of communities. This study investigates the relationship between the international FBO, World Vision International (WVI), and changes to religious, economic, and social ideologies and practices in Andean indigenous communities in southern Peruvian. This study aims to contribute to the greater knowledge and understanding of (1) institutionalized development strategies, (2) faith-based development, and (3) how institutionalized development interacts with processes of socio-cultural change. Based on fifteen months of field research, this study involved qualitative and quantitative methods of participant-observation, interviews, surveys, and document analysis. Data were primarily collected from households from a sample of eight communities in the Pitumarca and Combapata districts, department of Canchis, province of Cusco, Peru where two WVI Area Development Programs were operating. Research findings reveal that there is a relationship between WVI’s intervention and some changes to religious, economic, and social structure (values, ideologies, and norms) and practices, demonstrating that structure and practices change when social systems are altered by new social actors. Findings also revealed that the impacts of WVI’s intervention greatly increased over the course of several years, demonstrating that changes in structure and practice occur gradually and need a period of time to take root. Finally, results showed that the impacts of WVI’s intervention were primarily limited to those most closely involved with the organization, revealing that the ability of one social actor to incite changes in the structure and practice of another actor is associated with the intensity of the relationship between the social actors. The findings of this study should be useful in ascertaining deductions and strengthening understandings of how faith-based development organizations impact aspects of religious, economic, and social life in the areas where they work.

The effect of domestic credit in the economic *development process

A commonly held view is that creation of excessive domestic credit may lead to inflation problems, however, many economists uphold the possibility that, generous domestic credit under appropriate conditions will result in increases of output. This hypothesis is examined for Japan and Colombia for the period 1950-1993.^ Domestic credit theories are reviewed since the times of Thornton and Smith, until the recent times of Lewis, McKinnon, Stiglitz and of Japanese economists like K. Emi, Tachi R. and others. It is found that in Japan of the Post-War period, efficient financial markets and the decisive role of the government in orienting investment decisions seem to have influenced positively the effectiveness of domestic credit as an output-stimulating variable. On the contrary, in Colombia the absence of the above features seems to explain why domestic credit is not very effective as an output-stimulating variable.^ Multiple regression analyses show that domestic credit is a strong explanatory variable for output increases in Japan and a weak one for Colombia's case in the studied period. For Japan the correlation depicts a positive relationship between the two variables with a decreasing rate very similar to a typical production function. Moreover, the positive decreasing rate is confirmed if net domestic credit is used in the correlations. For Colombia a positive relationship is also found when accumulated domestic credit is used, but, if net domestic credit is the source of correlations, the positive decreasing rate is not obtained.^ Granger causality tests determined causality from domestic credit to output for Japan and no-causality for Colombia at the 1% significance level; the differences are explained by: (1) The low development level of the financial system in Colombia. (2) The nonexistence of consistent domestic credit policy to foster economic development. (3) The lack of an authoritative orientation in the allocation of financial resources and the nonexistence of long range industrialization programs in Colombia that could channel productively credit resources. For the system of equations relating domestic credit and exports, the Granger causality tests determined no-causality between domestic credit and exports for both Japan and Colombia also at the 1% significance level. ^

Economic Development and Mass Poverty in Africa: Assessment of the Nigerian Experience

The forces surrounding the emerging economies of underdeveloped world, especially Africa has practically stifled its economic progress, growth, development and sustainability. This economic condition brings to the fore the massive onslaught of rural/urban poverty which the African continent grapples with since the post-world war II era to date. The economic misfortunes and incidence of mass poverty in Africa, vis-à-vis Nigeria is used as a point of departure in this study. The paper underscores the ideological and philosophical undertone of international capital manifesting in form of colonialism and imperialism as a major character in the historical process of underdevelopment and mass poverty in peripheral states of Africa, Asia and Latin America, respectively. Of particular interest in this study is the activities of domestic bourgeoisie elite class who have vigorously displayed some degree of lack of much needed vision and abject lack of desires to draw up workable plans to redeem the battered image of African/ Nigerian economic misfortunes. This state of affairs has practically engendered economic underdevelopment, misery and disturbing levels of poverty in the nation-state system. The paper concludes with the forward towards realizing the vision 20-20-20 objectives in the 21t century and beyond.

The Return of Institutions. On the Latest Change in the Research on Social and Economic Development

The paper describes the latest change in the research on social and economic development of states. This change is characterized mainly by a strong emphasis put on the role of institutions as key instruments of reducing the development gap between countries. It is argued that in the years after 1989 institutions have disappeared from mainstream academia and major intellectual debates because of: (1) the widespread belief in global convergence of capitalism and (2) the modernization theory which prevailed in the social science in the 1990s. The article indicates that institutions were once again brought into focus as a result of (1) a wider debate about the institutional sources of growth and development sparked by Acemoglu and Robinson’s Why Nations Fail, (2) the beginning of the global economic crisis of 2008 triggered by the fall of American investment bank Lehman Brothers (3) diversified consequences of the economic crisis seen all over Europe and the USA which illustrate (4) the institutional varieties of capitalism.

"Ancestry, gender and language - The role of culture in economic development"

This thesis is a combination of research questions in development economics and economics of culture, with an emphasis on the role of ancestry, gender and language policies in shaping inequality of opportunities and socio-economic outcomes across different segments of a society. The first chapter shows both theoretically and empirically that heterogeneity in risk attitudes can be traced to the ethnic origins and ancestral way of living. In particular, I construct a measure of historical nomadism at the ethnicity level and link it to contemporary individual-level data on various proxies of risk attitudes. I exploit exogenous variation in biodiversity to build a novel instrument for nomadism: distance to domestication points. I find that descendants of ethnic groups that historically practiced nomadism (i) are more willing to take risks, (ii) value security less, and (iii) have riskier health behavior. The second chapter evaluates the nature of a trade-off between the advantages of female labor participation and the positive effects of female education. This work exploits a triple difference identification strategy relying on exogenous spike in cotton price and spatial variation in suitability for cotton, and split sample analyses based on the exogenous allocation of land contracts. Results show that gender differences in parental investments in patriarchal societies can be reinforced by the type of agricultural activity, while positive economic shocks may further exacerbate this bias, additionally crowding out higher possibilities to invest in female education. The third chapter brings novel evidence of the role of the language policy in building national sentiments, affecting educational and occupational choices. Here I focus on the case of Uzbekistan and estimate the effects of exposure to the Latin alphabet on informational literacy, education and career choices. I show that alphabet change affects people's informational literacy and the formation of certain educational and labour market trends.

Tourism as a contributor to development in Sri Lanka: An overview and a case study

General background is provided on the potential of tourism growth to contribute to economic development, paying particular attention to the experience of Sri Lanka. An overview of trends in inbound tourism to Sri Lanka is presented with particular consideration being given to its number of inbound tourist arrivals. Sri Lanka’s comparative position in international tourism markets, the composition of its tourist arrivals by area of origin, the extent of foreign earnings by the Sri Lankan tourism industry and variations in the amount of these earnings, and the extent of employment generation by this industry are examined. Regional aspects of the tourism industry in Sri Lanka are given special consideration, and this is followed by a report on the regional economic impact of tourism of Pinnawala Elephant Orphanage. This major tourist attraction near the edge of the Western Highlands of Sri Lanka is shown to make a significant contribution to economic decentralisation. A general discussion follows of tourism development in the Sri Lankan context. The main factors that have hindered tourism growth in Sri Lanka and its decentralisation are considered. Indications are that major impediment posed by civil disturbance and terrorism is at an end in Sri Lanka.

Social Movements and the Dynamics of Rural Territorial Development in Latin America

This special section brings together 4 of the 12 studies conducted within a research program analyzing the relationships among social mobilization, governance. and rural development in contemporary Latin America. The introduction Lives an overview of the contemporary significance of social movements For rural development dynamics in the region, and of the principal insights of the section papers and the broader research program of which they were a part. This significance varies Lis an effect of two distinct and uneven geographics: the geography of social movements themselves and the geography of the rural political economy. The effects that movements have oil the political economy of rural development also depend significantly oil internal characteristics of these movements. The paper identifies several such characteristics. The general pattern is that movements have had far more effect oil widening the political inclusiveness of rural development than they have oil improving its economic inclusiveness and dynamism. (c) 2008 Elsevier Ltd. All rights reserved.