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5 Conceptual Basis for Regional Development Theories

Regional Development

  • It is the provision of aid and other assistance to regions, which are less economically developed.
  • Domestic or international in nature.
  • One of the main features of the modern world economy is social and economic development of countries and world region.
  • It is considered to be complex and contradictory.
Image Shows Non Classical Factors of Regional Development

Basis for Regional Development

  • Interregional Convergence Hypothesis
  • Locational Theories
  • External Economies
  • Model of Spatial Competition
  • Central Place Theory
Showing Basis for Regional Development

Major Theories

There are various theories like convergence and divergence theories for regional development. For example, political theories include growth machine theory and new institutional economies.

Regional Development Theories

Regional Development Organizations

  • European Inforegio Commission՚s Regional Policy Information
  • UNCRD (United Nations Centre for Regional Development)
  • OECD Regional Competitiveness and Governance Division
  • SWIEDC (South west Indiana Economic Development Coalition)
  • IEDC (Indiana Economic Development Corporation)

Dimensions of Regional Development

  • Conceptual base
  • Implementation of development plans and policies

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