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Globalisation and Regional Economies

Can OECD Regions Compete in Global Industries?

image of Globalisation and Regional Economies

Despite concern about the negative impacts of globalisation on the economies of OECD regions, notably the loss of manufacturing jobs and enterprise relocation, this report presents evidence that region-specific advantages – embedded in specialised firms, skilled labour and innovation capacity – remain a significant source of productivity gain for firms, even for the largest multinational enterprises.  A new geography of production is emerging, based around both old and new regional hubs in OECD and non-OECD countries. National and regional governments in OECD countries are looking for ways to ensure that regions maintain a competitive edge in industries that generate wealth and jobs. This report looks at how different regions are responding to these challenges and the strategies they have adopted to support existing competitive advantages and to transform their assets to develop new competitive strengths.

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The Reshaping of Regional Economies

Rapid changes in economic structures are causing concern among both policy makers and citizens in OECD countries. To understand how these trends are affecting regions, this chapter explores the dynamics of the manufacturing sector at the regional level and the shift, visible in some places, towards higher value manufacturing and non-manufacturing activities. This chapter sets the scene for subsequent discussion of whether and how regions can seize the opportunities offered by globalisation by building on their accumulated assets.

English

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