Predict regional convergence. Capital will flow to low-wage regions where its marginal product is highest, eventually balancing out geographic disparities.
While urban economics focuses on internal city structures, regional economics studies the systems of cities and macro-spatial disparities. The Krugman Core-Periphery Model modern urban and regional economics pdf upd
A central debate in regional development centers on how to address distressed areas: Predict regional convergence
To address the challenges and opportunities presented by technological change and globalization, policymakers must prioritize: policymakers must prioritize: