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Article: A labor market based theory of regional economic development

TitleA labor market based theory of regional economic development
Authors
Issue Date2000
PublisherSpringer Verlag. The Journal's web site is located at http://link.springer.de/link/service/journals/00168/index.htm
Citation
Annals Of Regional Science, 2000, v. 34 n. 1, p. 131-145 How to Cite?
AbstractThe Borts and Stein (1964) theory of regional economic growth and development has been widely accepted and discussed in regional economic development literature. Given their assumption that labor demand conditions are invariant between regions and that the labor demand is highly wage elastic, they conclude that regional growth is primarily supply driven and differences in growth among regions arise due to differences in the growth of labor supply assuming that wage elasticity of labor supply is the same across regions. Muth (1968, 1971) claims to have verified the Borts and Steins (BS) conclusion. We propose a regional labor market based model of economic development similar to BS with certain modifications in assumptions and show that the Borts-Stein-Muth (BSM) conclusion is based upon a narrow view of labor demand and supply elasticities. Our theory demonstrates that regional development is mainly labor demand driven once we adopt a broader view of elasticities. The broader view incorporates the direct effect of wages on labor supply and labor demand as well as the indirect effects of wages through changes in inmigration and firms' formations in a region.
Persistent Identifierhttp://hdl.handle.net/10722/85600
ISSN
2015 Impact Factor: 0.571
2015 SCImago Journal Rankings: 0.405
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorMathur, VKen_HK
dc.contributor.authorSong, FMen_HK
dc.date.accessioned2010-09-06T09:07:02Z-
dc.date.available2010-09-06T09:07:02Z-
dc.date.issued2000en_HK
dc.identifier.citationAnnals Of Regional Science, 2000, v. 34 n. 1, p. 131-145en_HK
dc.identifier.issn0570-1864en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85600-
dc.description.abstractThe Borts and Stein (1964) theory of regional economic growth and development has been widely accepted and discussed in regional economic development literature. Given their assumption that labor demand conditions are invariant between regions and that the labor demand is highly wage elastic, they conclude that regional growth is primarily supply driven and differences in growth among regions arise due to differences in the growth of labor supply assuming that wage elasticity of labor supply is the same across regions. Muth (1968, 1971) claims to have verified the Borts and Steins (BS) conclusion. We propose a regional labor market based model of economic development similar to BS with certain modifications in assumptions and show that the Borts-Stein-Muth (BSM) conclusion is based upon a narrow view of labor demand and supply elasticities. Our theory demonstrates that regional development is mainly labor demand driven once we adopt a broader view of elasticities. The broader view incorporates the direct effect of wages on labor supply and labor demand as well as the indirect effects of wages through changes in inmigration and firms' formations in a region.en_HK
dc.languageengen_HK
dc.publisherSpringer Verlag. The Journal's web site is located at http://link.springer.de/link/service/journals/00168/index.htmen_HK
dc.relation.ispartofAnnals of Regional Scienceen_HK
dc.titleA labor market based theory of regional economic developmenten_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0570-1864&volume=34&spage=131&epage=145&date=2000&atitle=A+labor+market+based+theory+of+regional+economic+developmenten_HK
dc.identifier.emailSong, FM: fmsong@hkucc.hku.hken_HK
dc.identifier.authoritySong, FM=rp01095en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s001680050130-
dc.identifier.scopuseid_2-s2.0-0033996973en_HK
dc.identifier.hkuros53679en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0033996973&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume34en_HK
dc.identifier.issue1en_HK
dc.identifier.spage131en_HK
dc.identifier.epage145en_HK
dc.identifier.isiWOS:000086257000008-
dc.publisher.placeGermanyen_HK
dc.identifier.scopusauthoridMathur, VK=7101995567en_HK
dc.identifier.scopusauthoridSong, FM=7203075605en_HK

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