Conceptualizing local and regional economic development in the United States

Abstract

Contemporary literature on local and regional economic development (LRED) in the United States is predominantly empirical and pragmatic, focusing on the conduct and efficacy of economic development policy. While this work is valuable in evaluating the detailed operation of LRED activity, the broader conceptual foundations which underlay economic development practice have been underplayed. We reflect on research and writing around LRED in the U.S. and address some key conceptual and theoretical limitations. We call for a stronger focus on contextualization and set out a theoretical approach grounded in regulationist insights which offers significant advances in theorizing U.S. LRED.