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in Economics by Master (716k points)

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by Master (716k points)
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Regional development policies might improve the standard of living by:

  • limiting the effects of economic centralisation and decentralises operations into neglected areas
  • Attempting to promote the advantages of more even regional development by using labour, other natural resources and infrastructure in neglected areas 
  • The alleviation of large scale unemployment hence the availability of new job opportunities
  • Directing foreign direct investment into the rural areas that will lead to infrastructure development
  • Promoting increased inward investment by creating more diverse production units 
  • Networking and sharing innovations would arise and lead to a changed way of doing things in communities
  • Asisting in the improvement of running a business by creating a sustainable business culture
  • Pustaining the capacity of a region to support its own development and the natural, as well as human resources should create employment and sustainable development 
  • Providing sufficient resources in resource-poor areas, such as the development of
  • infrastructure/development is a multi-dimensional process 
  • improving the quality of education and healthcare in a region through well-trained/skilled roleplayers 
  • Following an integration approach to ensure that benefits in one region can spill over to other industries and areas 
  • Building private-public partnerships to stimulate local development and to access state resources 
  • Developing regional industrial road maps with unique programmes for the
  • various regions, based on their specific strengths and opportunities 
  • Developing SEZ’s in rural areas/smaller towns
  •  diversifying the economy from a traditional mineral/ agricultural base towards manufacturing and exportable service activities 
  •  Intervening by government in education and training to develop the skills base, to regulate the inflow of technology and to promote domestic research 
  • developing and maintaining appropriate incentives for producers, capabilities and institutions at both national and regional levels 
  • stimulating cooperation between the private sector, public sector and the local community – communities have specific needs and must provide labour and skills for development 

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