Regional Dynamics
Subtitle: Studies in Adjustment Theory
By: Gordon L. Clark
Contributors: Whiteman, John E. M.; Gertler, Meric S.
Edition: First edition.
Series: Routledge Library Editions: Urban and Regional Economics; Routledge Library Editions: Urban and Regional Economics -- Volume 2
Publisher: Taylor and Francis
Published: 2017
Place of publication: London
Language: eng
Number of pages: 362
ISBN-13: 9781315103297
Subjects: Regional economics; Space in economics; Economic conditions; Regional disparities; Économie régionale; Espace (Économie politique); Conditions économiques; Disparités régionales; BUSINESS & ECONOMICS; Economics; General; Reference; Economic history
Notes: "Originally published in 1986. This book is concerned with how regional economies adapt and respond to changing circumstances, and especially with the spatial system and processes of restructuring. Throughout the book there is a methodological commitment to adjustment theory - a unique analytical framework for the study of the dynamics of advanced capitalist economies. Instead of homogenising space in the manner of neoclassical economic theory, the authors focus on adjustment processes that produce and reproduce spatial differentiation. The most important facets of regional economic structure are covered - employment, wages, prices, migration, and capital investment - in terms of their own dimensions and their connections with the larger theoretical framework. Each part of the book develops one particular dimension of regional adjustment, and each has an overview and summary. Within each part, there is a sequence of related studies focussing on the empirical aspects, theoretical logic, and distributive consequences of regional adjustment."--Provided by publisher.
Table of contents: title: Cover; Half Title Page; Title Page; Copyright Page; Original Title Page; Original Copyright Page; Dedication Page; Preface; Acknowledgement; Contents; List of figures; List of tables; Part I A theory of regional adjustment; 1 The adjustment problem; Introduction; A binary theory of regional change; A critique of catastrophe theory; The necessity for adjustment theory; The adjustment problem; 2 Contemporary regional economic structure; Introduction; Adjustment theory in general; Local economic structure; The management of labor supply; Location and adjustment strategies; title: A typology of regional adjustmentConclusions; 3 An adjustment model of regional production; Introduction; Traditional regional production models; A production model of the firm; The geography of output; Data and empirical methodology; Regional output and the distribution of income; Conclusions; Part II Local employment profiles and labor demand; 4 Fluctuations and rigidities in local labor markets; Introduction; Labor as a commodity; Contracts and labor relations; Adjustment scenarios by city and industry; Conclusions; 5 Regional demand for labor; Introduction; Wages as prices; title: Prices and profitsOutput and labor adjustment; Wages and profits; Conclusions; 6 The risks of local adjustment; Introduction; Geographical profiles of employment dynamics; Risk and regional change; A methodology for aggregate risk analysis; Job risk in two urban economies; Conclusions; Part III Regionalwages and prices; 7 Does inflationvary between cities?; Introduction; Costs of inflation; Properties of price adjustment; Empirical methodology; Urban inflation patterns; Predicting local inflation; Conclusions; 8 Components of local inflation; Introduction; The shocks hypothesis; title: National versus local inflation patternsComponents of local inflation; Conclusions; 9 Regional wage indexation; Introduction; Wage bargaining and indexation; Regional wage-price dynamics; Regional wage and price inflation; Causality between regional wages and prices; Conclusions; Part IV Interregional labor migration; 10 Dynamics of inter-state labor migration; Introduction; Adjustment properties of labor migration; Dynamic statistical models; Time-series structure of gross migration; Relationships between gross flows; Conclusions; 11 Migration and capital; Introduction; title: The capital-logic schoolThe competitive market school; Modeling regional growth and decline; Cross-correlation analysis of migration and capital; Capital, in-migration, and causality; Capital, outmigration, and causality; Conclusions; 12 Labor migration and uncertainty; Introduction; Transaction costs and policy; Decentralized labor markets and transaction costs; Substantive bases of labor exchange; Social relations of uncertainty; Conclusions; Part V Regionalcapital dynamics; 13 Regional capital theory; Introduction; The local capital market; The holy grail of regional convergence