Showing posts with the label worker productivity

Regional Development Leads to National Growth

Economic development can be either regionalized or dispersed throughout a nation. Advantages associated with regional development are discussed by Simon Flynn and how this impacts growth, welfare, inflation, income distribution, and regional economic inequality (2014). Most nations are focused on regional development and have gained some success in finding growth and stability.  Nations that seek to diversify their development throughout the country may have some difficulty finding enough capital to raise the nation as a whole. However, by focusing on regional areas it is easier to funnel resources for greater economic enhancement. Modern regional development seeks to develop the core as well as the peripheral area around that core for maximum appeal.  Each nation has their individual strategies for regional growth and development. Some include equitable income distribution, GNP increase, GDP increases, productivity development, and international competition (Kim & Kim