Implementation of Regional Development in Australia

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Big regions tend to be more influential than minute ones, because they have a bigger command over financial activity. The small free regional economies:

- Most probable to be price-takers since they do not control a huge enough section of the international market to influence costs.

- Seems to only specialize in the limited variety of competitive output since they have very limited number of immobile factors of production.

- Due to the small scale of local production, the demand for domestic products does not meet the global market.

- The regional regime, which has reduced influence to make the right condition for development and growth, due to the greater forces of external factors.

The smaller is the local economy, the most likely the above principles will hold, and the less are the resources in those economies to work with to sustain and archive global competitiveness. Nevertheless, the prior statement is an overview and small regions can survive in global competitiveness. A scenario of a rural settlement of around 300 people from the Northern coastal region of northern of Australia, trade artwork to gatherers from the Europe who took flight directly to the settlement to view the exhibits contained in tarnished shed preserved by the very aged woman folk. It is of primitive and unique features of those artifacts verify these regions comparative advantage.

In defining a region, an individual is certainly faced with the issue of boundary, which is being able to differentiate where the boundary exactly lies between one region and the other region. Some of the boundaries can be easily defined: like the boundary separating other states of Australia and Australia. However, the other boundaries between the Sections can be far less clear.

Boundaries can be static or dynamic. Regions develop and contracts and the organization of economic activities change. The determining factor will highly affect the forceful of a boundary. Population compactness, even the boundary of regime influence can change, and in some situations, better data and information can influence a boundary.

General Borders are purpose driven: affected by the operational features of the service providers or specifically field of interest. A postcode boarder is conducive for segmenting and defining of Australia post for relief main item, but may not be good for assigning a threat or risk category for the aim of evaluating the risk quality to be attached to a motor vehicle policy. Similarly, the state boarder between Victoria and South Australia may not be good for deciding the boundaries of the green triangle. As will be explained in later chapters, a boarder of the most attention is the jurisdiction boundary, which resolves the restrictions of the influence of the government institutions and policies- a major aspect influencing the development of regions.

Regional Growth and Regional Development

Regional development is a broad concept referring to regional communities/societies in enhancing their social, economic, environmental and cultural well-being by completely utilizing the potential of the regions resources, including its people. The concept of regional development covers all basic qualities of human welfare. It has been explained as dealing with programs, policies, and organizations concerned with motivating local economic employment and growth, which functions at the Territory level or sub-State. Asseng (2013) states that regional economic improvement has been previously thought of a s a prerequisite for regional development normally because without sustainable income generating activities, regions have very minimal chances of creating wealth needed to achieve high living standard. Nevertheless, economic development will not be discussed or captured unless there are expected cultural, social, environmental and non-economic feature of regional communities. To some degree these features are depends on each other, and to what level, is a difficult issue both in measurement and causation.

The regions are not independent of the extra-regional policies. Though wine characterizes both both Bordeaux region in France and Barossa valley region, it has to be remembered these religions remained influenced by extended policies for example, as state, national and regional taxation as in the Australia.

Regional economic development needs change to take place before growth occurs. Development entails changes in the economic incentives, thinking ways, and attitudes. As Akompab (2013) states “current studies dot show the growth and development run together, in the logic that structural transformation is positively related with income growth.

As discussed in the earlier section, regions can be described according to purpose, and this purpose keeps on changing over time. Regions advance or regional political boarder is changed to reflect changing government, which makes the regions doubtful ferry which to pour inter temporal study.

Regional development is much wider than the regional economic growth. The mostly common measures of economic growth are per capita income where the income is measured by the Gross National Product (GNP), or Gross Domestic Product (GDP) and accustomed for inflation. Many researchers concluded that there is extensive uncertainty over whether average per capita returns adequately represent the height of economic development.

Another aspect of increasing the significant of regions is the decreasing cost of communications and transport. The lower expenditure have taken the weight of location out of the regions- bring them collectively, which has greatly enhanced the accessibility of market to companies and added the tradability of much wider variety of services and goods. Gradually, regional competitiveness depends on the characteristics of the product of the region, not far to the market.

New telecommunication and information technology has decreased the cost of information but more importantly have greatly boosted quantum and the speed of access and to the information. This has made facilitated time sensitive and more complex transactions. On these bases, Mills (2013) states that the strength of markets for technology, knowledge, and ability to innovate are moving economic growth. Regions, which are capable of providing good environment and organization of motivation for these drivers, will flourish.

Globalization is an irregular process, mirroring the differential pace of change across various nations. The ability of a region to hold the opportunities globalization offers shows the duration of added adjustment period