This course is aimed at analysing the determinants of regional and local economic development in the context of the globalized economy. It will be divided in three blocks of sessions discussing (a) the rationale for recent localization trends, (b) the determinants of local economic development, and (c) the role of the main economic actors involved and the available policy options.
In the first set of sessions we will revise the debate on globalization and localization to understand how both trends contribute to explain the current geography of production and labour.
Secondly, we will analyse the determinants of local economic development in the light of key economic theories (neoclassical growth theory, endogenous growth theory, new trade theory). This part of the course will be devoted to develop a better understanding of the rationale behind the emergence and persistence of existing disparities in regional economic performance.
The third block of sessions will look at the role of key economic actors: local firms, multinational enterprises, individuals, local communities, etc. The analysis of their economic behaviour, their interactions and linkages will help to develop the analytical framework to interpret the genesis of localised economic systems, their dynamics and evolution over time and the policy options for local economic development.