Multi-Sector Analysis: Assessing Regional Competitiveness and Risk
It was shown in Chaps. 3 and 4 how the application of quantitative techniques of regional analysis using secondary data may provide us with an understanding both of change over time in the performance of a regional economy and of the interdependencies between sectors of the economy, including the use of projections to test potential regional development futures. Quantitative techniques are certainly very powerful analytic tools, but they do have limitations in enabling us to confidently predict regional futures (Mintzberg 1994). Qualitative techniques also may be used to help explain the raison d’etre for economic development patterns occurring in a region and to improve our capacity to speculate on a range of economic possibilities or outcomes for the future based largely upon the collective experience, wisdom and judgment of actors in regional economies. A challenge in regional analysis is how to develop further more refined and new techniques that bridge quantitative and qualitative methods of analysis to give us a better perspective on the factors that contribute to the creation and maintenance of competitive regional futures.
KeywordsCore Competency Industry Sector Regional Risk Multi Criterion Analysis World Economic Forum
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