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| Foreword | |
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| Preface | |
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| Community Economic Development Theory | |
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| Defining Community Economic Development | |
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| Community | |
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| Development | |
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| Community Economic Development and Analysis | |
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| An Organizing Paradigm | |
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| Economics: Background Fundamentals | |
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| Market Efficiency and Pareto Optimality | |
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| Market Failure | |
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| Externalities | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Growth Theory | |
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| Rostow-Kuznets Stages of Economic Growth | |
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| Income Distribution and the Stages of Development | |
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| Critique of the Stages of Development Theory | |
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| Structural Change Theories of Economic Growth | |
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| The Lewis Model of Structural Change | |
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| Patterns of Development | |
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| Critiques of Structural Change Theories | |
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| Neoclassical Solow-Swan Growth Theory | |
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| Spatial Interpretation of the Neoclassical Theory | |
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| Critiques of the Neoclassical Theory | |
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| Endogenous Growth Theory | |
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| Spatial Implications of Endogenous Growth Theory | |
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| Critiques of Endogenous Growth Theory | |
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| Policy Implications and Summary | |
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| Study Questions | |
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| Notes | |
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| Space and Community Economics | |
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| Significance of Location Theory in Community Economics | |
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| Profit Maximization | |
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| Least Cost or Cost Minimization | |
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| Demand Maximization | |
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| Summary and Critique of Classical Location Theory | |
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| Behavioral Approach | |
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| Objective Functions | |
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| Uncertainty | |
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| Information | |
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| Summary and Critique of the Behavioral Approach | |
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| Institutional Approach | |
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| Agglomeration in Location Theory | |
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| Regional Comparative Advantage | |
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| Industry Clusters | |
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| Alternative Agglomeration Semantics | |
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| Porter's Approach to Regional Competitive Advantage | |
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| Product Life Cycle | |
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| Limitations of Location Theory | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Concepts of Community Markets | |
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| Circular Flow | |
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| External Markets: Export Base Theory | |
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| Limitations | |
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| Export Base Multipliers | |
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| Internal Markets: Central Place Theory | |
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| Range of a Good or Service | |
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| Demand Threshold | |
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| Central Place Hierarchy | |
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| Shifts in the Hierarchy of Central Places | |
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| Limitations of Central Place Theory | |
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| Concepts of Internal Market Analysis | |
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| How Trade Areas Differ | |
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| Identifying High Potential Internal Market Sectors | |
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| Information of Interest to Retail and Service Sector Prospects | |
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| Retail and Service Clustering | |
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| Developing a Clustering Strategy | |
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| Summary and Policy Implications | |
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| Study Questions | |
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| Notes | |
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| Community Factor Markets | |
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| Land Markets | |
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| Use Capacity of Land and Its Ownership | |
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| Productive Land Use | |
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| The Economic Basis of Urban Sprawl | |
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| The Exurbanization Process | |
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| Land Use Planning: The Analytical Toolbox | |
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| Cost-Benefit Analysis | |
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| Fiscal Impact Assessment | |
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| Economic Impact Analysis | |
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| Land Use Planning: The Directive Toolbox | |
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| Public Ownership | |
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| Public Regulations | |
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| Publicly Provided Incentives | |
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| Quasi-public Market-oriented Land Use Tools | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Labor Markets | |
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| Labor Markets | |
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| Demand for Labor | |
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| Supply of Labor | |
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| Institutions/Rules | |
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| Labor Market Theories | |
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| Supply-oriented or Human Capital Theory | |
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| Demand/Rules-oriented Theories | |
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| Informal Work and Leisure | |
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| Community Labor Market Issues | |
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| Unemployment | |
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| Job/Worker Matching | |
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| Information | |
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| Labor Mobility | |
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| Discrimination | |
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| Exploitation | |
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| Contingent Labor Force | |
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| Poverty/Welfare Reform and Strategies to Address Low-income Levels | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Financial Capital Markets | |
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| Community Capital Assets and Markets | |
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| Capital Stock Assets versus Flows of Funds | |
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| The Importance of Financial Capital Markets to Community Economics | |
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| An Overview of Financial Capital Markets | |
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| Nonhomogeneity of Capital Markets | |
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| Debt versus Equity in Capital Markets | |
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| Debt: Community Capital Markets | |
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| Secondary Markets | |
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| Correspondent Banking | |
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| Accessing New Sources of Capital | |
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| The Role of Banks in Community Economic Development | |
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| Equity: The Traditional Venture Capital Industry | |
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| Impediments to the Venture Capital Investment Process | |
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| The Decision-making Process | |
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| Capital Market Failures | |
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| Mobility | |
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| Information | |
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| Risk and Uncertainty | |
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| Regulation | |
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| Discrimination | |
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| Specific Venture/Equity Capital Market Failures | |
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| Policy Responses to Capital Market Failures | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Technology and Innovation | |
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| What Are Technology and Innovation? | |
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| Innovation or Technological Adoption | |
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| Models Explicitly Incorporating Technology | |
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| Product/Innovation Life Cycle Theory | |
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| Growth Center/Propulsive Industries Theory | |
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| Disequilibrium Theories | |
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| Policy | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Nonmarket Goods and Services: Amenities | |
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| The Concept of Nonmarket Goods and Services | |
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| The Array of Economic Goods and Services | |
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| The Value of Nonmarket Goods and Services | |
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| Use Values | |
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| Non-use Values (Option, Existence, and Bequest) | |
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| The Role of Amenities in Community Economic Development | |
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| The Temporal Aspect of Amenities | |
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| Characteristics of Amenities | |
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| Approaches to Estimating the Value of an Amenity | |
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| Incorporating Amenities into the Realm of Community Economic Analysis | |
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| The Incomplete Nature of Traditional Regional Accounts | |
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| Relationship to Our Conceptual Basis | |
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| Summary and Policy Implications | |
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| Study Questions | |
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| Notes | |
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| Local Government and Public Goods | |
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| When Private Markets Fail | |
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| Tiebout's Solution | |
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| A Stylized Model of Local Public Markets | |
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| Efficiency, Effectiveness, and Evaluation | |
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| Taxation | |
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| Sources of Revenue for Government | |
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| Qualities of a Good Tax System | |
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| Taxes, Spending, and Economic Growth | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Institutions and the Art of Community Economics | |
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| Institutions and Society | |
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| The Role of Society and Culture in Community Economic Development | |
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| The Role of Institutions in Community Economic Development | |
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| Specific Institutions | |
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| Institutional Change | |
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| Government as an Institution | |
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| Incentives and Subsidies | |
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| Types of Subsidies | |
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| Critiques of Government Subsidies | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Policy Modeling and Decision-Making | |
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| Our Capacity to Make Decisions (Social Capital) | |
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| Setting Collective Objectives | |
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| Utilitarianism | |
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| Libertarianism | |
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| Contractarianism | |
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| Arrow's Impossibility Theorem | |
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| Moving from Social Utility to Policy Action | |
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| An Objective Approach to Examining Policy | |
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| Addressing Community Needs: The Relevance of Public Policy | |
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| Identifying Community Strategies, Goals, and Objectives | |
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| Different Perspectives of Community Economic Development Policy Choices | |
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| Strategies for Community Economic Development | |
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| The Shaffer Approach | |
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| Community Entrepreneurship | |
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| A Zero Sum Approach | |
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| Complex Interrelationships and Persistence | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| The Practice of Community Economic Development | |
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| The Process of Community Economic Development | |
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| Readiness | |
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| Different Roles and Approaches | |
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| The Changing Logic of Community Economic Development | |
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| Community Decisions | |
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| Economic Data | |
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| Economic Accounts | |
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| Comparing Communities | |
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| Measuring a Community's Economy | |
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| Definitions of Industrial Sectors | |
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| Where to Find Data | |
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| Community Economic Analysis | |
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| The Community Economic Analysis Program | |
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| The Take Charge Program | |
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| Summary | |
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| Study Questions | |
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| Appendix A | |
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| Community Economic Preparedness Index | |
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| Appendix B | |
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| Twenty Questions about Your Community | |
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| Notes | |
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| Tools of Community Economics | |
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| Descriptive Tools of Community Economic Analysis | |
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| General Economic Trends | |
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| Growth Indices | |
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| Shift-share Analysis | |
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| Delineating the Relevant Economic Area | |
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| Defining Trade Areas by the Analysis of Customer Origins | |
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| Defining Trade Areas Based on Travel Time | |
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| Defining Trade Areas Based on Travel Distance: Gravity Models | |
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| Defining Labor Market Areas | |
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| Specialization: Bifurcating the Local Economy | |
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| Direct Methods | |
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| Indirect Methods | |
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| Local Market (Nonbasic) Analysis | |
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| Retail and Services Demand Analysis | |
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| Retail and Services Supply Analysis | |
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| Other Market Considerations and Gap Analysis | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Inferential Tools of Community Economic Analysis: Fixed-Price Models | |
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| Input-Output Analysis | |
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| The Input-Output Descriptive Accounts | |
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| Crucial Assumptions of IO | |
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| An Example | |
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| The Predictive Input-Output Model | |
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| Input-Output Multipliers | |
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| Common Sense and Input-Output Multipliers | |
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| Input-Output Analysis in Practice | |
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| Extending the Traditional IO Framework | |
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| Social Accounting Matrix Analysis | |
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| The SAM Accounting Structure | |
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| Constructing a Regional SAM | |
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| Interpreting SAM Results | |
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| The Usefulness of SAM Analysis in Community Economics | |
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| Summary and Key Limitations of Fixed-price Models | |
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| Study Questions | |
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| Notes | |
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| Inferential Tools of Community Economic Analysis: Price Endogenous Models | |
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| Computable General Equilibrium Models | |
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| How a CGE Model Works | |
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| What a CGE Model Looks Like | |
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| A Simple Example | |
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| Operational CGE Models | |
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| Hybrid Conjoined Models | |
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| How a Conjoined Model Is Structured | |
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| Introduction to Spatial Statistics | |
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| Summary | |
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| Study Questions | |
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| Notes | |
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| Looking to the Future | |
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| Revisiting Our Definitions of Community Economic Development | |
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| Where We Have Been | |
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| A Comprehensive Approach to Community Economic Development | |
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| Strategies for Community Economic Development | |
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| What It's All About | |
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| A Comprehensive Theory | |
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| Notes | |
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| References | |
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| Index | |