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1 Perspectives on Regional Economic Development 1 1.1 Regions in the New Global Economy 1 1.2 What Is Regional Economic Development? 4 1.3 Understanding How Regional Economies Work and the 7 Challenge that Represents for Development Planning 1.4 The Changing Paradigms Shaping Economic 11 Development Policy and Strategy 1.5 Some Core Theories and Models of Regional Economic 18 Development 1.6 Thinking Global While Acting Local 36 1.7 Sustainable Development 39 1.8 Schools Shaping Thinking About Regional Economic 42 Development Strategy and Planning 1.9 New Tools, New Strategies for Regional Economic 46 Development Planning 1.10 Scope and Structure of this Book 49 2 The Regional Economic Development Movement: The 53 Evolution of Strategy from Early to Contemporary Approaches 2.1 The Changing Context 53 2.2 The Changing Objectives of Local Economic 55 Development Policy 2.3 Approaches to Planning for Regional Development in the 61 1970s and 1980s - 2.4 Monitoring Outcomes of Economic Development 73 Programs 2.5 The Strategic Planning Approach 76 2.6 The Concern with Sustainable Development 84 2.7 An Enabling Planning Framework for Regional Economic 98 Strategy Formulation 2.8 Summary 103 3 Traditional Tools for Measuring and Evaluating Regional 105 Economic Performance I: Economic Base and Shift-Share Analysis 3.1 The Need to Measure Regional Economic Performance 105 3.2 Economic Base Theory and Industrial Targeting 106 3.3 Shift-Share Analysis 114 3.4 Critiques and Extensions of Traditional Shift-Share 121 Analysis 3.5 Using the Regional Shift Component as a Dependent 136 Variable to Model Determinants of Spatial Variation in Regional Endogenous Growth: A Case Study of Queensland, Australia 3.6 Data Envelopment Analysis (DEA) 144 3.7 Conclusions 154 4 Traditional Tools for Measuring and Evaluating Regional 157 Economic Performance II: Input-Output Analysis 4.1 Measuring Regional Inter-Industry Linkages 157 4.2 Compiling a Regional Input-Output Table 157 4.3 Exogenous and Endogenous Effects 161 4.4 Using Input-Output Analysis to Measure Impact of an 162 Economic Activity 4.5 Using Input-Output Analysis as a Predictive Tool 164 4.6 A Forecasting Application of Input-Output Analysis: An 165 Economic Development Strategy for the Brisbane South East Queensland Region, Australia 4.7 Using Sub-Regional Input-Output Analysis to Measure 187 Impact Assessment 4.8 New and Emerging Extensions to Input-Output Models 189 and Conclusions 5 Path Setting: An Approach to Regional Economic 191 Development Futures 5.1 New Approaches in the Contemporary Era 191 5.2 Futures 191 5.3 Analyzing Futures 199 5.4 Recent Developments in Economic Strategy Formulation 206 5.5 A New Synthetic Strategic Framework for Planning 222 SII 5.6 The Future Direction of Strategy for Regional Economic 232 Development 5.7 Summary 235 6 Industry Clusters and Industry Cluster Analysis 237 6.1 A New Context 237 6.2 Globalization, Industry Structure and Localization 238 6.3 Industry Clusters: A Contemporary Strategy 242 6.4 A Basic Approach to Building Industry Clusters 246 6.5 Industry Clusters as the New Engines of Metropolitan 252 Economies in the US 6.6 Quantitative Analysis to Identify and Measure Regional 257 Industry Clusters 6.7 The Process for a Region Undertaking Cluster Industry 270 Development 6.8 Conclusions 276 7 Multi-Sector Analysis : Approaches to Assesing Regional 279 Competitiveness and Risk 7.1 The Need for a New Technique 279 7.2 Theoretical Basis for Multi-Sector Analysis (MSA) 281 7.3 Using MSA for Regional Strategy 288 7.4 The Process for Operationalising the MSA Approach 299 7.5 Examples Applying Multi-Sector Analysis 303 7.6 Future Development of Multi-Sector Analysis 317 8 Capacity Building, Institutions and Leadership for 319 Regional Economic Development 8.1 An Emerging New Perspective on Regional Capacity 319 Building 8.2 Endogenous Processes 320 8.3 Social Capital 321 8.4 Leadership and Institiional Capacity Building 322 8.5 Leadership and Regional Economic Development: A 323 Conceptual Model 8.6 Re-Engineering Regions and Rapid Response 334 8.7 Networks, Strategic Alliances and Network Resources 341 8.8 Conclusions 346 9 Decision Support Tools to Inform Regional Economic 349 Development Analysis and Strategy 9.1 Using Spatial Information Technology to Build Decision 349 Support Systems "" A 9.2 Geographic Information Systems 351 9.3 Case Study of a GIS to Support Economic Development 352 Decision Making 9.4 A Spatial Decision Support System 358 9.5 Integrating Quantitative and Qualitative Analysis 367 9.6 A Spatial Optimization Modelling and Visualization 373 Capacity 9.7 Spatial Analysis of Geographic Clustering of Industry 382 Clusters 9.8 Conclusions 383 10 Emerging Issues for Regional Economic Development 385 10.1 A Rapidly Changing World: The Need for a New 385 Paradigm 10.2 Future Directions of Regional Economic Strategy 389 10.3 Managing Risk 395 10.4 The Evolution of Analytical Tools 399 10.5 The Challenge of the Virtual Economy 401 10.6 Sustainable Development 407 10.7 Being Fast and Flexible in Search of Sustainable 413 Development