To them that hath: economic complexity and local industrial strategy in the UK
Publication Date
2022Journal Title
International Tax and Public Finance
ISSN
0927-5940
Publisher
Springer Science and Business Media LLC
Volume
29
Issue
2
Pages
358-377
Language
en
Type
Article
This Version
VoR
Metadata
Show full item recordCitation
Mealy, P., & Coyle, D. (2022). To them that hath: economic complexity and local industrial strategy in the UK. International Tax and Public Finance, 29 (2), 358-377. https://doi.org/10.1007/s10797-021-09667-0
Abstract
<jats:title>Abstract</jats:title><jats:p>Divergent economic performance in many countries has led to renewed interest in place-based policies, such as the UK’s local industrial strategies at the level of Combined Authorities or Local Economic Partnerships. However, an analysis of employment data using methods from the economic complexity literature demonstrates great heterogeneity in industrial strengths and future growth opportunities within those jurisdictions, raising challenges in designing common policies suited to all sub-geographies. Moreover, the ‘related’ industries into which low-complexity, low-wage local authorities could potentially diversify are also low-wage. Incremental policies building on existing local capacities are therefore likely to amplify divergence between prospering and left-behind areas.</jats:p>
Keywords
Article, Economic complexity, Relatedness, Regional economic development, Industrial strategy, Place-based policy, O25, R10, R58
Identifiers
s10797-021-09667-0, 9667
External DOI: https://doi.org/10.1007/s10797-021-09667-0
This record's URL: https://www.repository.cam.ac.uk/handle/1810/335122
Rights
Licence:
http://creativecommons.org/licenses/by/4.0/
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