Place-based economic development strategy in England:filling the missing space

Hildreth, Paul and Bailey, David (2014). Place-based economic development strategy in England:filling the missing space. Local Economy, 29 (4-5), pp. 363-377.

Abstract

This paper examines the implications of a place-based economic strategy in the context of the UK Coalition government's framework for achieving local growth and the creation of Local Economic Partnerships in England. It draws on the international literature to outline the basic foundations of place-based policy approaches. It explores two key features, particularly as they relate to governance institutions and to the role of knowledge. After examining key concepts in the place-based policy literature, such as 'communities of interest' and 'capital city' and 'local elites', it shows how they might be interpreted in an English policy context. The paper then discusses a place-based approach towards an understanding of the role of knowledge, linked to debates around 'smart specialisation'. In doing so, it shows why there is an important 'missing space' in local growth between the 'national' and the 'local' and how that space might be filled through appropriate governance institutions and policy responses. Overall, the paper outlines what a place-based approach might mean in particular for Central Government, in changing its approach towards sub-national places and for local places, in seeking to realise their own potential. Furthermore, it outlines what the 'missing space' is and how it might be filled, and therefore what a place-based sub-national economic strategy might address.

Publication DOI: https://doi.org/10.1177/0269094214535712
Divisions: Aston Business School > Economics finance & entrepreneurship
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Aston Business School
Uncontrolled Keywords: industrial policy,LEPs,local growth,localism,place-based approaches,regional policy,smart specialisation,Economics, Econometrics and Finance(all)
Full Text Link: http://lec.sage ... tent/29/4-5/363
Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
Published Date: 2014-06
Authors: Hildreth, Paul
Bailey, David ( 0000-0002-1956-0556)

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