Leadership and institutional factors in endogenous regional economic development

Literature on the relationship between leadership and entrepreneurship as it applies to endogenous growth in a regional context is reviewed and used to explore a research agenda for work on this topic. A leadership/entrepreneurship analytical approach is developed and applied on a pilot basis to the Greater Washington D.C. region and its sub-parts. The results are assessed and used to further refine the model and to identify some of the more provocative policy implications of this work. The implications for regional planning process are also considered.

Foreign and domestic investment:regional development or crowding out?

This paper tests, at the regional and industry level, the extent to which domestic investment is stimulated or crowded out by inward foreign direct investment. The paper develops a model of domestic investment, based on standard models drawn from macroeconomics and industrial economics. The paper then goes on to show that, at a general level, the 'development' or agglomeration hypothesis is confirmed that domestic investment is indeed stimulated by inward investment. However, there is also evidence that, in certain regions, inward investment has crowded out domestic investment. The implications of this from the perspective of regional policy are briefly discussed.

Empirical analysis of human capital development and economic growth in Europe

Recent discussion of the knowledge-based economy draws increasingly attention to the role that the creation and management of knowledge plays in economic development. Development of human capital, the principal mechanism for knowledge creation and management, becomes a central issue for policy-makers and practitioners at the regional, as well as national, level. Facing competition both within and across nations, regional policy-makers view human capital development as a key to strengthening the positions of their economies in the global market. Against this background, the aim of this study is to go some way towards answering the question of whether, and how, investment in education and vocational training at regional level provides these territorial units with comparative advantages. The study reviews literature in economics and economic geography on economic growth (Chapter 2). In growth model literature, human capital has gained increased recognition as a key production factor along with physical capital and labour. Although leaving technical progress as an exogenous factor, neoclassical Solow-Swan models have improved their estimates through the inclusion of human capital. In contrast, endogenous growth models place investment in research at centre stage in accounting for technical progress. As a result, they often focus upon research workers, who embody high-order human capital, as a key variable in their framework. An issue of discussion is how human capital facilitates economic growth: is it the level of its stock or its accumulation that influences the rate of growth? In addition, these economic models are criticised in economic geography literature for their failure to consider spatial aspects of economic development, and particularly for their lack of attention to tacit knowledge and urban environments that facilitate the exchange of such knowledge. Our empirical analysis of European regions (Chapter 3) shows that investment by individuals in human capital formation has distinct patterns. Those regions with a higher level of investment in tertiary education tend to have a larger concentration of information and communication technology (ICT) sectors (including provision of ICT services and manufacture of ICT devices and equipment) and research functions. Not surprisingly, regions with major metropolitan areas where higher education institutions are located show a high enrolment rate for tertiary education, suggesting a possible link to the demand from high-order corporate functions located there. Furthermore, the rate of human capital development (at the level of vocational type of upper secondary education) appears to have significant association with the level of entrepreneurship in emerging industries such as ICT-related services and ICT manufacturing, whereas such association is not found with traditional manufacturing industries. In general, a high level of investment by individuals in tertiary education is found in those regions that accommodate high-tech industries and high-order corporate functions such as research and development (R&D). These functions are supported through the urban infrastructure and public science base, facilitating exchange of tacit knowledge. They also enjoy a low unemployment rate. However, the existing stock of human and physical capital in those regions with a high level of urban infrastructure does not lead to a high rate of economic growth. Our empirical analysis demonstrates that the rate of economic growth is determined by the accumulation of human and physical capital, not by level of their existing stocks. We found no significant effects of scale that would favour those regions with a larger stock of human capital. The primary policy implication of our study is that, in order to facilitate economic growth, education and training need to supply human capital at a faster pace than simply replenishing it as it disappears from the labour market. Given the significant impact of high-order human capital (such as business R&D staff in our case study) as well as the increasingly fast pace of technological change that makes human capital obsolete, a concerted effort needs to be made to facilitate its continuous development.

Diversity in economics:an analysis of journal quality perceptions

It is still debatable whether scientific diversity is a virtue or a disadvantage for the development of a discipline. Nonetheless, diversity among scientists with respect to their journal quality perceptions plays an important role in hiring and promotion decisions. In this article we examine the degree of diversity within economics based on the journal quality perceptions of 2,103 AEA economists worldwide. Specifically, we empirically test for factors that might explain differences in an economist's journal quality perceptions. These factors include an economist's geographic origin, school of thought, journal affiliation, field of specialization and research orientation. Indeed, we find that a significant degree of diversity in journal quality perceptions exists between economists that belong in different subgroups. These results might explain the frequent debates in tenure and promotion committees where journal standings are used for the evaluation of a researcher's output.

The development of a solar wall module using a selective surface

A need was indicated for the identification of a possible new solar energy product to improve the sales potential of a metal film with a selective surface, manufactured by the industriaI sponsor of this project (INCO). A possible way of overcoming the disadvantageous economics of solar energy collection was identified. This utilised the collection of solar energy by the walls of buildings constructed in such a manner as to allow the transfer of energy into the building, whilst providing adequate thermal insulation in the absence of sunlight. The actual collection element of the wall, being metallic, is also capable of performing the function of a low temperature heating .system in the absence of sunlight. As a result of this, the proposed system, by displacing both the wall and centraI heating system which would otherwise be necessary, demonstrates economic benefits over systems which are constructed solely for the purpose of collecting solar energy. The necessary thermodynamic and meteorological. characteristics and data: are established, and applied to a typical urban site in the North of England, for a typical average year, with and without a shading device incorporated into the construction. It is concluded that the proposed system may offer considerable benefit in reducing the effective heating season in all orientations of wall.

The development of an expert system for the identification anodic coating process defects as a contribution to the dissemination of anodizing technology

Initially this thesis examines the various mechanisms by which technology is acquired within anodizing plants. In so doing the history of the evolution of anodizing technology is recorded, with particular reference to the growth of major markets and to the contribution of the marketing efforts of the aluminium industry. The business economics of various types of anodizing plants are analyzed. Consideration is also given to the impact of developments in anodizing technology on production economics and market growth. The economic costs associated with work rejected for process defects are considered. Recent changes in the industry have created conditions whereby information technology has a potentially important role to play in retaining existing knowledge. One such contribution is exemplified by the expert system which has been developed for the identification of anodizing process defects. Instead of using a "rule-based" expert system, a commercial neural networks program has been adapted for the task. The advantages of neural networks over 'rule-based' systems is that they are better suited to production problems, since the actual conditions prevailing when the defect was produced are often not known with certainty. In using the expert system, the user first identifies the process stage at which the defect probably occurred and is then directed to a file enabling the actual defects to be identified. After making this identification, the user can consult a database which gives a more detailed description of the defect, advises on remedial action and provides a bibliography of papers relating to the defect. The database uses a proprietary hypertext program, which also provides rapid cross-referencing to similar types of defect. Additionally, a graphics file can be accessed which (where appropriate) will display a graphic of the defect on screen. A total of 117 defects are included, together with 221 literature references, supplemented by 48 cross-reference hyperlinks. The main text of the thesis contains 179 literature references. (DX186565)

Development of a small-scale trigeneration plant based on a CI engine fuelled by neat non-edible plant oil

This study presents design and construction of a tri-generation system (thermal efficiency, 63%), powered by neat nonedible plant oils (jatropha, pongamia and jojoba oil or standard diesel fuel), besides studies on plant performance and economics. Proposed plant consumes fuel (3 l/h) and produce ice (40 kg/h) by means of an adsorption refrigerator powered from the engine waste jacket water heat. Potential savings in green house gas (GHG) emissions of trigeneration system in comparison to cogeneration (or single generation) has also been discussed.

Institutions, finance and the level of development:the impact on entrepreneurship in transition

We investigate the impact of institutions on entrepreneurial entry, based on a large cross-country sample, combining working age population data generated by the GEM project with macro level indicators. Our four key findings indicate that: (a) institutional obstacles to entrepreneurship have different impact in rich countries compared to poor countries; (b) institutional obstacles have a stronger impact on 'opportunity entrepreneurship' than on 'necessity entrepreneurship'; (c) two institutional indicators - property right protection and access to finance - appear to have a dominant impact on entrepreneurship; (d) institutions have a long term impact. More than ten years after the Soviet system imploded in Central and Eastern Europe, these countries still experience significantly lower levels of entrepreneurship than economies coming from different legal traditions.

The global financial crisis, working people and sustainable development

Although they had nothing to do with the actual causes of the 2008 Global Financial crisis, it is ordinary workers and their families who have arguably suffered the most from its effects. While governments and international agencies seem most concerned to protect the returns to Capital in the name of financial austerity and economic good sense, little has been done to protect the well-being of working people or the global environment. Both trade unionists and environmentalists oppose the destruction wrought by neoliberal market economics; the challenge is for them to work more closely together in the future to promote truly sustainable development.

Regional competitiveness, economic growth and stages of development

This paper positions the concept of regional competitiveness within theories concerning regional economic growth and stages of economic development. It examines the sources of regional competitiveness encompassing an analysis based on the particular stage of economic development that the nations within which regions are situated have reached. As a means to achieve this, the paper undertakes an empirical analysis of data stemming from the World Competitiveness Index of Regions, and identifies regional competitiveness as a dual concept that explains relative differences in rates of economic development across regions, as well as an understanding of the future economic growth trajectories of regions at a similar stage of economic development. As with endogenous growth and development theory, the notion of regional competitiveness presented here places knowledge, innovation and entrepreneurship at the forefront of conceptualisations of regional economic differentiation.