Regional income disparities, monopoly and finance

Feldman, Maryann, Guy, Frederick and Iammarino, Simona ORCID: 0000-0001-9450-1700 (2020) Regional income disparities, monopoly and finance. Cambridge Journal of Regions, Economy and Society. ISSN 1752-1378

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Abstract

The overall rise in inequality in the USA since 1980 has been matched by a rise in inequality between places; local and regional development policies aimed at reversing this polarisation have seen limited success. We propose an explanation for the spatial polarisation of prosperity and the failure of the policies to remedy it. Our explanation is based on the interaction of monopoly power, agglomeration economies in technology clusters and the power of financial sector actors over non-financial firms—all phenomena characteristic of the post-1980 economy. We review evidence for each of these elements and propose some causal relationships between them, as an outline of an ongoing research programme.

Item Type:	Article
Official URL:	https://academic.oup.com/cjres
Additional Information:	© 2020 The Authors
Divisions:	Geography & Environment
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HJ Public Finance H Social Sciences > HN Social history and conditions. Social problems. Social reform
JEL classification:	O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O33 - Technological Change: Choices and Consequences; Diffusion Processes R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, and Changes R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade
Date Deposited:	28 Jul 2020 10:21
Last Modified:	12 Dec 2024 02:15
URI:	http://eprints.lse.ac.uk/id/eprint/105807

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