New Regional Economies
Since 1994 the GCR has seen huge economic strides and there has been enormous impact on key challenges such as income disparities and poverty. However the regional economy is still trapped in structural conditions set by past development paths. Despite government’s best efforts to date, and fairly healthy growth in the mid-2000s, it is still largely uncompetitive, vulnerable to sudden future shocks, profoundly inequitable, and ultimately unsustainable in its reliance both on growing consumption of consumer-goods and on increasingly scarce and costly resource inputs.
In addressing these constraints there is a need to support the development of a GCR economy that is not only competitive, but which is also socially and economically inclusive and sustainable.There are many economic concerns at issue in building a regional economy – from labour market developments, to macro-economic conditions, to matters of firm strategy. GCRO’s research in this theme focuses more narrowly on the ‘city region / regional economics’ issues of (1) the GCR’s economic geography and (2) its position in the world, in particular how new local economies connect with growing opportunities in Africa.