Regional income disparities, monopoly and finance
Feldman, M. and Guy, Frederick and Iammarino, S. (2021) Regional income disparities, monopoly and finance. Cambridge Journal of Regions, Economy & Society 14 (1), pp. 25-49. ISSN 1752-1378.
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Abstract
The overall rise in inequality in the U.S. since 1980 has been matched by a rise in inequality between places; local and regional development policies aimed at reversing this polarization have seen limited success. We propose an explanation for the spatial polarization of prosperity and the failure of the policies to remedy it. Our explanation is based on the interaction of monopoly power, agglomeration economies in technology clusters, and the power of financial sector actors over non-financial firms – all phenomena characteristic of the post-1980 economy. We review evidence for each of these elements and propose some causal relationships between them, as an outline of an ongoing research program.
Metadata
| Item Type: | Article |
|---|---|
| Additional Information: | This is a pre-copyedited, author-produced PDF of an article accepted for publication following peer review. The version of record is available online at the link above. |
| Keyword(s) / Subject(s): | regional income distribution, monopoly, technology clusters, platforms, financialization, spatial inequality JEL Classification: R11, R12, F61, F62, F65, O33 |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Frederick Guy |
| Date Deposited: | 31 Jul 2020 09:53 |
| Last Modified: | 02 Aug 2023 18:01 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/32720 |
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