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Essay / Research Paper Abstract
This 5 page paper considers the development of the economy in the North West of England. The paper considers the growth and trends in the area by way of regional economic theory. The bibliography cites 10 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEuknorw.rtf
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Unformatted sample text from the term paper:
were falling into recession. This resilience nationally was seen as consumer led. However, the economic performance has not bee the same nationally, with different trends and problem over the different
areas. The south east has seen rapid economic growth, with increasing house prices and increasing standards of living., The North West has shown less favourable trends. This is the area
has had more challenges, this was traditionally one of the industrial areas of the country, that has seen rapid decline in the demand for its products and a reduction in
the needs for labour (Law, 1995). This in turn reflects on the economy, as fewer people work and there is greater pressure on the welfare state, there is less deposable
income in order to create a turnaround in the economy. If we wish to consider the development and trends in this area then we can use regional economic theory as
a method of consideration and evaluation. This paradigm is an economic theorem that tells us that only capital flowing inwards towards a specific region, be it a country or a
city, originating form an outside area, will have the ability to create economic growth and expand the economy. In this we can see how the policies of the area may
be aimed at increasing interest from external investors. This may be commercial investment from firms in other areas, as well as to attract tourists. In this model there is a
reason why there may be an attraction, as it also explains how "xternal economies of scale, agglomeration economies, or localisation economies are used as theoretical constructs explaining why firms locate
in each others vicinity to arrive at increasing returns to scale" (Lambooy, 1998). There is an assumption in this paper that the student understands the theory, here we will continue
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