This textbook offers an introduction to empirical regional economics, including a comprehensive and systematic overview of the fundamentals, history, development, and applications of economic base models. It not only provides a sound basis for regional economics and regional economic analysis, but it also includes numerous applications of the underlying theory. The book has an empirical orientation, highlighting the value of observation and testing in order to explain regional economic behavior. Theory plays an important role in this study, but it is only a starting point.
The book is divided into three parts: the first discusses the economic base theory of regional growth and the empirical evidence supporting it, while the second part covers the specification and application of four increasingly complex regional economic models: the economic base model, the input-output model, the interindustry econometric model, and the structural time-series model. Lastly, the third part presents forty-eight regional economic case studies organized under seven headings, including economic cycles, economic policy, and regional forecasting.
Given its scope, the book appeals to upper-undergraduate and graduate students majoring in economics, economic geography, and business, as well as to anyone in the private or public sector interested in gaining a better understanding of practical methods of regional economic forecasting and analysis.