Policy-Based Analysis for Local Economic Development

Wilbur R. Thompson
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Wilbur R. Thompson: Cleveland State University

Economic Development Quarterly, 1987, vol. 1, issue 3, 203-213

Abstract: Local development policymakers, strategists, and analysts should target industries with much more information than usual about wide differences between industries in growth rates, cycle patterns, wage rates, concentration ratios, foreign trade balances, labor market behavior, and occupation mixes. All this needs to be complemented with a new "occupational-functional approach." Functions common to all industries, such as innovation, decision making, research, precision and routine production, make locational choices and have local impacts more alike than the diverse functions within an industry. States and localities should pick functions in which to specialize, even more than industries. Broad policies on income level and stability, foreign trade, education, and intraurban planning are realistic and reinforcing when founded on explicit choices of what a place does as well as what it makes.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:1:y:1987:i:3:p:203-213

DOI: 10.1177/089124248700100303

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