Regional policy – few people are likely to know much about this term. For decades, even in the economics profession, hardly anyone thought about whether and how economic policy should be designed for regions within an economy. The big macroeconomic questions – growth, balance of payments, unemployment – or basic research into game theory seemed more important. If regional policy was discussed at all, it had a bad reputation. Many specific measures such as investment cost subsidies for companies in economically weak development areas were considered inefficient.
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