Place-Based Economic Policies and Regional Development
Summary
Place-based economic policies are interventions targeted at specific geographic areas to stimulate growth, employment and innovation in lagging regions. By concentrating fiscal incentives, infrastructure investment and regulatory support within delineated zones, policymakers aim to harness local assets and linkages, promote knowledge spillovers and reduce inter-regional disparities. Such strategies range from special economic zones and high-tech parks to targeted grants for deprived neighbourhoods. Empirical evidence highlights both successes and limits: well-designed initiatives can catalyse firm productivity, attract foreign direct investment and foster agglomeration economies, yet poorly calibrated schemes may yield enclave effects, displacement of activity and unequal territorial outcomes. Contemporary research emphasises the importance of governance frameworks, institutional capacity and alignment with broader urban and rural development plans. As global challenges such as digital transformation and climate change reshape economic geography, place-based approaches are evolving to incorporate sustainable practices, collaborative governance and adaptive evaluation, ensuring that regional development objectives are met in an inclusive and environmentally responsible manner.
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Place-Based Economic Policies and Regional Development publication trend
The graph below shows the total number of articles in place-based economic policies and regional development across all publications each year (not limited to Nature Index journals).
Technical terms
Place-based economic policy: An intervention that directs public resources and incentives to a defined geographic area to stimulate economic activity and development.
Special economic zone (SEZ): A designated territory offering preferential regulations and infrastructure to attract investment, boost exports and foster industrial clusters.
Agglomeration economies: Productivity benefits arising when firms and workers locate close to one another, facilitating knowledge exchange and shared inputs.
Knowledge spillovers: The transmission of ideas and innovations between firms or individuals, often enhanced by geographic proximity and collaborative networks.
References
- Place‐based policies, firm productivity, and displacement effects: Evidence from Shenzhen, China. Journal of Regional Science (2018).
- The challenge of developing special economic zones in Africa: Evidence and lessons learnt. Regional Science Policy & Practice (2022).
- Has the Construction of National High-Tech Zones Promoted Regional Economic Growth?—Empirical Research from Prefecture-Level Cities in China. Sustainability (2022).
- What draws investment to special economic zones? Lessons from developing countries. Regional Studies (2023).
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