Regional Growth with Economic Structure
- 80 Downloads
The previous chapters of regional dynamics are concerned with one-sector economies. But to explain economic mechanism of division of labor and competitive equilibrium in labor market, the one-sector model is not sufficient to provide insights into dynamic processes of division of labor and interdependence between division of labor, knowledge and efficiency. It is necessary to extend the one-sector economy into a multi-sector economy. This chapter is to provide a theoretical framework for studying the interdependence among the division of labor, growth of population, wealth accumulation, income distribution, and prices and profits determination within a multi-regional context.
KeywordsTransportation Cost Capital Accumulation Economic Structure Land Rent Perfect Competition
Unable to display preview. Download preview PDF.