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    Globalization, Geography, and Regional Policy

    Weiss, John | April 2005
    Abstract
    Regional policy can be defined simply as the deliberate use of public policy to influence the flow of resources in a national economy in favor of particular disadvantaged or backward regions. Most governments in Asia continue to who have either ‘strong’ or ‘weak’ versions of such policy, either on the grounds of equity, because important pockets of poverty are located in particular regions, or on the grounds of allocative efficiency, where it is deemed that the returns to immobile factors in a region are below their potential.1 Despite the skepticism in some circles over attempts to over-ride or influence market outcomes, a persuasive theoretical case for some form of regional policy can be argued from a range of perspectives. In this paper we reflect on what recent theorizing on trade and geography, that attempts to explain globalization patterns and their consequences, can add to the discussion on regional policy. The ‘new economic geography’ of the 1990’s, is itself arguably a variant of the ‘new international trade theory’ of the late 1970’s and 1980’s. Much of this literature focuses on trade between national economies and it is useful to assess how far it can be used to throw light on trends within national economies. Here we do not offer a precise definition of globalization, nor do we enter into discussions of whether current trends are entirely new or simply a revival of those from the pre –1914 era. We simply take globalization as a process in which there is an accelerated movement of commodities and capital between economies and a significant decline in the cost of transport and communications and reflect on what, if anything, this implies for regional policy.
    Citation
    Weiss, John. 2005. Globalization, Geography, and Regional Policy. © Asian Development Bank. http://hdl.handle.net/11540/3615. License: CC BY 3.0 IGO.
    Keywords
    Regionalism
    Regional Economy
    Regional Trading Arrangements
    Regional Trade Integration
    Regional Economic Integration
    Regional Cooperation
    Interregional Cooperation
    Trade Disputes
    Trade Barriers
    Economic integration
    Regional Development Bank
    Preferential tariffs
    International negotiation
    Protectionist measures
    Access to markets
    Economic agreements
    International trade law
    Regional integration
    Trade relations
    Regional disparities
    Interregionalism
    Regional economic disparities
    Regional economic blocs
    Industrial arbitration
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    Citable URI
    http://hdl.handle.net/11540/3615
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    Author
    Weiss, John
    Theme
    Regional
    Trade
    Labor Migration
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise