Economic Base Theory of Regional Growth

Richard S. Conway ()
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Richard S. Conway: Dick Conway and Associates

Chapter Chapter 1 in Empirical Regional Economics, 2022, pp 3-21 from Springer

Abstract: Abstract In the 1950s, Douglass North and Charles Tiebout engaged in a debate on the nature of regional economic growth. The discourse led to the formulation of the economic base model, a simple but powerful means of explaining and forecasting the process of regional economic growth. Fundamentally, the model rests on two propositions: the ability to produce goods and services for export is the key to regional economic growth; and the principal factors of production, namely labor and capital, are mobile. Even in its most rudimentary form, the economic base model provides a reasonable explanation of the divergent economic paths of rural and urban America.

Date: 2022
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DOI: 10.1007/978-3-030-76646-7_1

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