A Practitioner's Classification of Economic Development Policy Instruments, with Some Inspiration from Political Economy

Ernest Sternberg
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Ernest Sternberg: Cornell University

Economic Development Quarterly, 1987, vol. 1, issue 2, 149-161

Abstract: Subnational economic development in the United States is characterized by a multiplicity of policy instruments. Economic development professionals typically work with only a few of the many possible kinds of instruments. To engage more effectively in economic policymaking, practitioners should have an overview that arranges potential policy instruments in a logical order. Drawing upon a tradition of political economy, this article makes such a classification. The classification uses the principle that, to affect the economy, government exercises power through generic policies. When the policies are directed at individual businesses, the policies can be cross-classified against a typology of business functions. When not directed at individual businesses, the policies shape market structure, define and limit forms of enterprise, and engage government itself in enterprise. These distinctions yield a scheme that classifies a complete tabulation of policy instruments.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:1:y:1987:i:2:p:149-161

DOI: 10.1177/089124248700100206

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