Do We Know Economic Development When We See It?
AbstractConsiderable ambiguity exists regarding the assessment of regional economic development. Alternative measures often produce conflicting conclusions. Even if economic development progress is defined as improvement in economic welfare, it is not directly measurable. Therefore, this paper develops a theoretical framework that explores the potential linkages between regional utility and commonly used economic measures. State trends in these measures are then examined for the 1990s and related to the theoretical framework. The exercise reveals that no single measure should be preferred in assessing economic development, although it is possible to separate strong performers from weak performers.
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Bibliographic InfoArticle provided by Southern Regional Science Association in its journal Review of Regional Studies.
Volume (Year): 33 (2003)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
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