What Does The Study of Regional Economy Teach Us?

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What does the study of regional science help us understand? What are the three “building blocks” that underlie the complex patterns of location of economic activity? Should jobs move to people or should people move to jobs? Regional science is a sub field of social sciences that analyzes approaches to urban, rural, or regional problems. It involves the study of spatial patters to analyze the economic factors of a region. The study of regional science is necessary to improve the economy in today's competitive global market. This study helps the government organizations to identify and make efficient use of public resources by implementing best practices to meet the expectations of the general public. The primary goal of regional science is…show more content…
Various methodologies and ranking systems have been developed for evaluating business environments across different countries. Each ranking system uses a unique approach to evaluate the business climate. The forum will enable the various presenters and audience members to discuss similarities and differences in four international ranking systems and explore how the rankings may be used together in promoting enterprise development projects and overall economic growth. Many of the reports based on the ranking system help the businesses to concentrate on areas of development and take appropriate measures to cut down the taxes and reduce the regulations. A few of the indexes used to measure business climate are economic freedom index, fiscal policy index, business survival index and many others. The composite indexes and rankings should be treated with caution because these are the determiners of a state’s economic and potential growth. These indexes help the businesses to compare strategies, make investment decisions using quantitative data and evaluate the accuracy of the decisions. With measurement, understanding and comparison between the indexes of various businesses, decisions can be made with more knowledge and better understanding of the advantages and disadvantages. What are the arguments for pursuing regional competitiveness? Describe the role of productivity, creativity and innovation in regional development? Regional
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