Leadership and institutional factors in endogenous regional economic development

This paper proposes that a virtuous circle for the sustainable developmentof a city or region is achieved through a process whereby proactive and strongleadership and effective institutions enhance the capacity and capability of a place tobetter use its resource endowments and gain an improved marke...

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Bibliographic Details
Published in:Investigaciones regionales 2005-11 (7), p.23-52
Main Authors: Robert J. Stimson, Roger R. Stough, María Salazar
Format: Article
Language:English
Subjects:
endogenous growth
institutions
leadership
regional development
Online Access:Get full text
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Summary:This paper proposes that a virtuous circle for the sustainable developmentof a city or region is achieved through a process whereby proactive and strongleadership and effective institutions enhance the capacity and capability of a place tobetter use its resource endowments and gain an improved market fit in becomingcompetitive and being entrepreneurial. It is proposed that the performance of a city orregion at a point in time and the path of its economic development over time may berepresented by its position in a Regional Competitiveness Performance Cube. Thepaper proposes a new model framework whereby a city or region’s economic developmentand performance is an outcome dependent on how its resource endowmentsand market fit as quasi-independent variables are mediated by the interaction betweenleadership, institutions, and entrepreneurship as intervening variables. The experiencesof a number of case study cities from a variety of settings in the US, Europe,Asia and Australia are explored within that framework.
ISSN:1695-7253