Regional development entails the enhancement of wealth, living conditions, and future prospects in regions understood as subnational territories. It involves the growth of productive capacity based on a competitive and innovative economy, as well as the improvement of social and environmental conditions in those regions.
Many factors influence regional development, but government policies play a key role in shaping the outcome. Policy makers must enact initiatives that stimulate innovation and encourage business growth while at the same time ensure equitable opportunities for all residents. Moreover, these efforts must be nimble in a rapidly evolving global economy where goods, services, capital, and workers can flow easily across borders.
To support economic growth and development, some governments establish regional agencies that promote a specific region’s economic interests and potential through investments in infrastructure, human capital, and attracting investment. These agencies typically employ a place-based approach, emphasizing the unique assets of a region and tailoring their policies to those specific needs. Among other things, they may measure changes in regional GDP per capita, unemployment rates, poverty levels, and investment figures.
However, to understand the role of these policies in regional development, it is necessary to look beyond their economic dimensions. Drawing inspiration from scholars such as Gramsci, Bourdieu, and Foucault, many studies of power relations in regional development emphasize that the visible (or invisible) forms of domination in political and socioeconomic structures also shape the outcomes of regional development strategies.