Abstract
In this final chapter, Gabe revisits some of the key results from earlier in the book. New findings discussed in the chapter show how the “personality traits” of US regions contribute to the growth of good jobs. For US metropolitan areas, a combination of human capital (e.g., percentage of the workforce in creative occupations) and technology-based companies is especially important to economic development. These regional characteristics are less predictive of the performance of states, however, because human capital and technology need close physical proximity for their impacts to benefit others. Gabe concludes the book with an observation that economic development presents quite a challenge to states and US metropolitan areas.
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Notes
- 1.
The term cluster analysis, as it’s used in this chapter, describes a statistical-based approach to combine similar elements—on our case, metropolitan areas and states—into groups. In Chapter 3, the term cluster was used to describe the geographic concentration of businesses in similar or related industries.
- 2.
- 3.
This analysis is based on metro-level manufacturing employment data from the U.S. Bureau of Economic Analysis.
- 4.
For example, a study by Stuart Rosenthal and William Strange (2008) shows a steep drop-off in the impacts of human capital spillovers as distance increases.
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Gabe, T.M. (2017). Economic Development in the United States. In: The Pursuit of Economic Development. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-52476-4_9
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DOI: https://doi.org/10.1007/978-3-319-52476-4_9
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