An Introduction to Place-Based Development Economics and Policy

  • Gilberto Seravalli

Table of contents

  1. Front Matter
    Pages i-x
  2. Gilberto Seravalli
    Pages 1-23
  3. Gilberto Seravalli
    Pages 25-74
  4. Gilberto Seravalli
    Pages 75-97
  5. Gilberto Seravalli
    Pages 99-124
  6. Gilberto Seravalli
    Pages 125-144

About this book


This book introduces the reader to local development economics and policy, with a special focus on the place-based paradigm that covers its justification, its difficulties and the types of public intervention that it suggests. The starting point for the analysis is that economic development in lagging places is not to be expected as the result of a mechanism of automatic convergence between backward and advanced regions and that, therefore, the most appropriate development policy is not to maximize competition among all agents in all sectors and places. The failure of the Washington Consensus is examined, and the two competing positions to have emerged from this failure – spatially blind interventions and place-based policies – are contrasted. The main shortcoming of spatially blind policies, namely that immobile resources that could trigger or support a development process often remain untapped or “trapped”, is emphasized. The limitations of the “big push” state intervention and wage flexibility solutions to this trap are analyzed and the merits of place-based policies that support intervention and can deal with uncertainty, risk and conflict are discussed.


European cohesion policy Evolutionary economic geography Natural and cultural resources New economic geography Place-based policies Regional development strategies Spatially blind policies Underdevelopment traps Washington Consensus

Authors and affiliations

  • Gilberto Seravalli
    • 1
  1. 1.Gran Sasso Science InstituteL'AquilaItaly

Bibliographic information

  • DOI
  • Copyright Information Springer International Publishing Switzerland 2015
  • Publisher Name Springer, Cham
  • eBook Packages Business and Economics
  • Print ISBN 978-3-319-15376-6
  • Online ISBN 978-3-319-15377-3
  • Buy this book on publisher's site
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Finance, Business & Banking