Regional Systems and Regional Economic Growth: A Systems Approach to Understanding Regional Economy, Working Paper 046 Open Access
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Our goal in this working paper is to gain a better understanding of how various regional systems interact to bring about metropolitan economic growth. Our focus is thus on the systems that interact to produce regional economic outcomes – namely output, jobs, and income – in other words, economic growth. Below we set forth and describe these various systems – the production system, the land, labor, and housing markets, the transportation system, and the political system – and how they interact. We examine system inputs, outputs, and decision-making processes. We also identify possible problems in each of these systems that reduce the ability of the region to attain higher levels of economic growth and prosperity.