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More Employers, More Jobs, More Money: An Empirical Analysis of Local Economic Development Policy Impacts in U.S. Cities

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Author Info
Stuart Strother () (School of Business and Management, Azusa Pacific University, USA)
Abstract

Local government leaders in the U.S. employ a multitude of programs and policies in the name of economic development to increase the number of firms, employment, wages, and, of course, the tax base. The past few decades have seen a surge in local economic development policies, yet research analyzing their effectiveness is sparse. This study analyzes the relationship between local economic development policy and economic growth in a data set of 412 U.S. cities. Results indicate that policy has only has a weak correlation with economic growth, suggesting that growth is determined more by market conditions rather than government intervention. The article concludes with an entrepreneurial policy approach this author believes may yield development results in an era of limited policy effectiveness.

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File URL: http://www.panoeconomicus.rs/casopis/osmibroj/more%20employers,%20more%20jobs,%20more%20money.pdf
File Format: application/pdf
File Function: First version, 2007
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Publisher Info
Paper provided by Faculty of economics, Department of Economics in its series Working Papers with number 200744.

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Length: 22 pages
Date of creation: Oct 2007
Date of revision: Dec 2007
Publication status: Published in Panoeconomicus, December 2007, pages 445-467
Handle: RePEc:voj:wpaper:200744

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Web page: http://www.panoeconomicus.rs/

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Related research
Keywords: Economic development; Cities; Attraction; Retention; Incentives;

Find related papers by JEL classification:
H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
O20 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - General
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

References listed on IDEAS
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  1. Kelly Edmiston, 2007. "The role of small and large businesses in economic development," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 73-97. [Downloadable!]
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This page was last updated on 2009-11-22.

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