'Investability': The Key to Competitive Regions and Cities?

Abstract

This article proposes and develops a concept - investability - that can be used for analysing the competitive position of cities or regions, and formulating policy responses. It can be defined as conditions that are conducive to a higher level of investment and refers principally to the business environment in which economic agents operate. The paper discusses various influences on investment decisions and how they will impinge on different classes of potential investors. Policy implications are developed and the ways in which the concept might be used in policy making are examined.Local, Economic, Development, Urban, And, Regional, Policy, Productive, Investment, Location, Decisions,

Incorporating demand-side aspects into regional policy: variations in the importance of private investment decision factors across regions

“…Studies on regional competitiveness are an example of that approach (Huggins 2003). To assess the competitive position of regions, Begg (2002) proposes the interesting concept of "investability", representing the "conditions that are conducive to a higher level of investment, and refers principally to the business environment in which economic agents operate". The same idea is conveyed by Kronthaler (2005), in his comparative analysis of eastern versus western Germany regions "economic capability".…”

“…The third approach is to consider the performance of firms located in regions and, from their profitability, to infer the existence of favorable conditions for private businesses. Examples of this sort of approach are the studies by Azzoni (2001), Huggins (2003), Begg (2002), and Kronthaler (2005).…”

Scenario Planning for the Edinburgh City Region

“…The shift to the 'new' or 'knowledge' economy has in large part driven this transformation, with cities once again perceived as engines of regional and national economic growth (Sim et al, 2003). Cities able to capitalise on historically-strong knowledge sectors, such as higher education, administration and business services, appear well placed to build high value, knowledge-intensive economies in this new environment (Kresl, 1995;Begg, 2001;Park, 2002). Those that offer the combination of this knowledge-driven growth with a liberal, tolerant attitude to lifestyle choice are even argued by some to represent the key growth poles of the future (Florida, 2004).…”

“…In the last 20 years, many policies and strategies have focused in improving the bundles of 'human capital', that is the knowledge assets from general workforce skills to the number of specialised service companies (Begg, 2001). Such policies have been designed to improve the links between universities, research institutions and firms have also been applied in an attempt to position cities at the centre of 'learning regions' with substantial potential for product and process innovation (Cooke and Morgan, 1998;Glaeser, 1999;Lever, 2001).…”

Προοπτικές Ανάπτυξης Των Ελληνικών Περιφερειών Στο Νέο Ευρωπαϊκό Χώρο

“…κεφαλαίου, τεχνολογίας, επιχειρηματικότητας, εργασίας) (Begg, 2002). Η σημασία της εισροής συντελεστών παραγωγής είναι ιδιαίτερα σημαντική για τις περιφερειακές οικονομίες αναπτυσσόμενων χωρών οι οποίες εμφανίζουν και τα μεγαλύτερα ελλείμματα σε κεφάλαια, τεχνολογία και τεχνογνωσία, επιχειρηματικότητα κλπ.…”