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Productivity and Jobs in a Globalised World

(How) Can All Regions Benefit?

image of Productivity and Jobs in a Globalised World

This report looks at how regional policies can support productivity growth and jobs. While there has been a remarkable decline in inequality in OECD countries, inequality among regions within certain countries has increased over the same time period. Regions that narrowed productivity gaps tended to benefit from economically vibrant tradable sectors and integration with well-functioning cities. This report considers in detail the role of the tradable sector as a driver of productivity growth and its relationship with employment. It addresses the possible risks of a growing tradable sector and how diversification is central to strengthening regional economic resilience. It considers how regions integrate global value chains and highlights the role of regional and policy links in fostering productivity growth and job creation. It asks what policies can help better anticipate or cushion shocks from trade in specific regions and, more generally, what strategies and framework conditions are conducive for regional productivity and employment growth.

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Macroeconomic frameworks and institutional factors for regional economic performance

Beyond regional policies, territorial economic outcomes are also affected by factors that are beyond the control of regional actors. These include national or global macroeconomic trends, as well as certain national policies and frameworks that may have a specifically important spatial dimension. This chapter first explores how macroeconomic frameworks and national structural policies have contributed to differences in regional economic performance. It thereafter explores more generally how institutional and governance settings affect regional economic outcomes.

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