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Local Economic Development in a Global Market | |
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How Economists View the World | |
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Models and Assumptions | |
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Individual Behavior and Utility Maximization | |
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Ideological Perspectives on Market Operations | |
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How Markets Work | |
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Supply and Demand | |
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Supply, Demand, and Efficiency | |
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Markets Are Not Always Efficient | |
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The Role of Profits | |
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Economic Development Defined | |
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Careers in LED | |
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The Nature of Regions | |
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Types of Regions | |
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Local, National, and Global Economic Development | |
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Business Location, Expansion, and Retention | |
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Locational Factors | |
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Inertia | |
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Transportation Cost Minimizing Models | |
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Production Costs | |
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National Political Climate and Stability | |
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Opportunity Creation | |
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The Decision Making Process | |
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Motivations | |
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Practical Limitations on the Choice Process | |
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Steps in the Corporate Site Selection Process | |
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Changing Relative Importance of Locational Factors | |
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Surveys of Location Factors | |
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Survey Findings Past to Present | |
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Conducting Business Retention and Expansion Programs | |
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Markets, Urban Systems, and Local Development | |
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Demand and Market Areas | |
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Demand in a Spatial Setting | |
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Competition for Markets | |
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Threshold Demand and Range | |
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Determinants of Market Size | |
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The Urban Hierarchy and Urban System | |
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Central Places | |
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Goods and Services According to Urban Rank | |
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Changing Urban Patterns | |
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An Evaluation of the Central-Place Approach | |
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Considerations Extraneous to Central-Place Theory | |
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Transportation Costs | |
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Market Overlap, Rate Absorption, and Price Discrimination | |
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Product Differentiation | |
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Agglomeration Economies | |
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Institutional Factors | |
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Non-employment Residential Locations and Commuting | |
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Empirical Evidence | |
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Globalization and Urban (City) Systems | |
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How to Measure Areas of Influence | |
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Survey Techniques | |
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Reilly's Law of Retail Gravitation | |
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Probabilistic Models | |
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Retail Spending | |
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An Example | |
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Hinterland Expansion Strategies | |
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Economic Interdependence and Local Structure | |
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Agglomeration Economies | |
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Internal Agglomeration Economies | |
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Direct Sales Purchases Linkages | |
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Localization Economies | |
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Urbanization Economies | |
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Recap | |
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Cluster Analysis | |
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Measures of Economic Structure | |
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North American Industrial Classification System (NAICS) | |
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Location Quotients | |
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Estimating Export Employment with Location Quotients | |
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Surveys to Determine Export Activities | |
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Coefficients of Specialization | |
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Occupational Structure | |
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Other Aspects of Regional Structure | |
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Regional Growth and Development | |
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Stages of Growth | |
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Industrial Filtering (Life Cycle Model) | |
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Adding New Work to Old | |
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How Do Cities Move from One State to the Next? | |
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Circular Flow Diagram | |
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Elements of the Circular Flow Model | |
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Equilibrium and Change | |
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The Multiplier | |
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The Export Base Theory of Growth | |
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The Formal Income Model | |
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How to Operationalize the Export Base Approach | |
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Impact Studies and Export Base Forecasts | |
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Critique of the Export-Base Approach | |
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Primacy of Exports | |
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Import Substitution | |
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Productivity | |
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Exports Not Always Exogenous | |
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Small versus Large Regions | |
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Feedbacks among Regions | |
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Non-basic Activities May Not Increase | |
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Long-Run Instability of the Multiplier | |
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Excessive Aggregation | |
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Supply-Side Approaches | |
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Intermediate Inputs | |
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Entrepreneurship | |
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Capital | |
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Land (Environmental Resources) | |
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Labor | |
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Supply and Demand Side Approaches: A Synthesis | |
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Additional Tools for Regional Analysis | |
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Shift and Share Analysis | |
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An Application | |
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Critique | |
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Econometric and Simulation Models | |
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Econometric Models | |
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Caveats | |
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Importance-Strength Analysis | |
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Input-Output: Analysis | |
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The Transactions Table | |
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The Table of Direct Coefficients | |
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The Table of Direct and Indirect Coefficients | |
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Input-Output Applications | |
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Institutionalist Perspectives on Local Development | |
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External Benefits from Economic Development | |
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Job and Income Creation | |
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Fiscal Improvement | |
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Physical Improvements | |
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Who Benefits From Growth? | |
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Characteristics of Resource Supply | |
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Opponents of Growth | |
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Subsidies, Competition and Economic Development | |
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Is Local Economic Development a Zero Sum Game? | |
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Inefficiency and Oversubsidization | |
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Discretionary versus Entitlement Subsidies | |
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Cost Minimization versus Human Capital Strategies | |
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Social Capital and Economic Development | |
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Generic Economic Problems and Social Capital | |
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Ambiguous Reception of Social Capital | |
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Social Capital and Local Development Strategies | |
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Using Social Capital to Mitigate Economic Development Conflicts | |
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Social Network Analysis: Getting the Right People to the Table | |
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Targeting Development Efforts | |
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Cluster-Based Economic Development | |
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Local Economic Development in a Flattening World | |
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Models of Trade and Resource Flows | |
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Comparative Advantage | |
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Resource Mobility | |
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Economics of Migration | |
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Retiree-Migrant Development Strategy | |
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Mobility of Capital | |
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Innovations and Ideas | |
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Spatial Diffusion | |
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Implications for Regional Development | |
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Mobility and Development Policy | |
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Jobs-to-People versus People-to-Jobs | |
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Immigration and Urban Development | |
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Land Use | |
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What Gives Land Value? | |
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Land Rents and Value | |
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The Nature of Rent, Productivity and Access | |
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Highest and Best Use | |
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The Land Development Process | |
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Developer Goals | |
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The Market Study | |
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Environmental Impact Statements | |
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Profit Feasibility | |
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The Development Decision | |
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Implications of Financial Analysis for LED | |
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Land-Use Patterns | |
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The Monocentric City Model | |
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The Desity Gradient | |
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Roads and Axial Development | |
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Agglomeration and the Multiple-Nuclear City | |
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Speculation | |
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Changing Land Use Patterns | |
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Evaluating Metropolitan Spread (Urban Sprawl) | |
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Land Use and Economic Development Tools | |
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Zoning and Its Critics | |
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Flexibility and Land Use Regulations | |
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The Eminent Domain Controversy | |
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Rights to Land and Economic Development | |
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Housing and Neighborhood Development | |
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Fundamentals of Housing Economics | |
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Hedonic Pricing | |
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Uncertainty, Market Imperfections, and Competition | |
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Residential Location and Neighborhood Change | |
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The Filtering-Down Theory | |
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The Trade-Off Model | |
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The Cultural Agglomeration Model | |
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The Tiebout Model | |
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The Aggregate Economic Fallout Model | |
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Initiating and Perpetuating the Change Process | |
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Housing Policy Issues | |
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Rent Control versus Market Forces | |
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Income Support versus Housing Assistance | |
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Supply versus Demand Side Assistance | |
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Ghetto Dispersal versus Ghetto Improvement | |
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Dwelling-Unit versus Neighborhood Development | |
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Linkage Between Local Housing and Global Financial Markets | |
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Retail and Commercial Neighborhoods | |
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The Social Economy of Neighborhoods | |
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Community Development Corporations | |
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Cooperatives | |
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Community Gardens | |
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Poverty and Lagging Regions | |
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The Nature of Poverty | |
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Conceptual Approaches | |
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Demographics of Poverty | |
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Spatial Concentrations of Urban Poverty | |
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Regional Linkages: The Spread and Backwash Effects | |
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Empirical Studies of Spatial Linkages | |
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Spatial Linkages and Theories of Spatial Poverty | |
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Policy Issues | |
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Strengthening Linkages | |
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Improving Productivity | |
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Addressing Wage Rigidities | |
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Employment Guarantee Schemes in India | |
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Income Support | |
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Local Governance, Finance, and Regional Integration | |
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Spatial Perspectives on Government Functions | |
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Distribution and the Race to the Bottom | |
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Local Allocation | |
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Public Transportation - An Example | |
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Size and Scope of Local Governments | |
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Economies and Diseconomies of Scale | |
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Decision-Making Costs | |
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Improving Government Efficiency | |
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Using Prices and Fees | |
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Local Taxation and Economic Development | |
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Accountability | |
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Intergovernmental Competition | |
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Intergovernmental Grants and Coordination | |
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Rearranging Functions | |
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Privatization | |
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Market Based Reforms in Education | |
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Fiscal Impact and Benefit-Cost Studies | |
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Fiscal Impact Studies | |
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Benefit-Cost Analysis | |
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Local Economic Development Planning | |
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The Future and Local Development | |
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Concern with Values and Attitudes | |
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Technological Change | |
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Systems Orientation | |
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Importance of Timing | |
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Planning Perspectives on Development Policy | |
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The Planning Process | |
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Limits of Planning | |
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Planning and Future Studies Tools | |
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Delphi Forecasting | |
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Games | |
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Scenarios | |
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Environmental Scanning | |
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About the Author | |