Economic Base Theory Empirical Evidence

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

Chapter Chapter 2 in Empirical Regional Economics, 2022, pp 23-45 from Springer

Abstract: Abstract A sixty-year history of regional economic modeling, forecasting, and analysis in Washington state and the Puget Sound region reveals that the behavior of the state and regional economies is largely consistent with the economic base theory of regional growth. Various studies have shown that, because a region is “open” to its external economic environment, exports are a key to economic growth, people tend to follow jobs, and the unemployment rate, wage rates, and consumer prices are primarily determined in the national market.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-76646-7_2

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DOI: 10.1007/978-3-030-76646-7_2

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