regional economic development; European Union; FDI; Economic Growth; regional development programs; lagging regions
Regional development in the Chinese provinces and in the regions of the EU countries are evaluated and compared. Development efforts in southern Italy, northeast England and eastern Germany are reviewed along with EU, Community-wide regional development programs. Equity concerns suggest promotion of regional policy, but the pursuit of maximum national economic growth would avoid it, since it sacrifices some economic growth. The impact of FDI and domestic investments on individual Chinese provinces is compared with their impact in Europe. There is an implicit contrast between public sector regional development programs and more effective private foreign direct investments.
(c) 2007 Institute of East and West Studies, Yonsei University, Seoul. This is a pre-print of an article submitted for consideration in the Global Economic Review. Global Economic Review is available online at: www.tandfonline.com