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Sustainability 2016, 8(9), 963; doi:10.3390/su8090963

The Influence of Multiple Specializations on Economic Performance in U.S. Metropolitan Areas

1
Korea Research Institute for Human Settlements, 254 Simin-daero, Anyang-si 431-712, Korea
2
Department of Landscape Architecture and Urban Planning, Texas A&M University, 3137 TAMU, College Station, TX 77843-3137, USA
*
Author to whom correspondence should be addressed.
Academic Editor: Giuseppe Ioppolo
Received: 23 June 2016 / Revised: 13 September 2016 / Accepted: 14 September 2016 / Published: 21 September 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
View Full-Text   |   Download PDF [1064 KB, uploaded 21 September 2016]   |  

Abstract

Scholars have recently been debating how economic structure affects regional economic performance. Regional economic structure typically indicates how the industries in regions are organized. The attribute of industrial organization in regions is typically measured by how the employment in a region is distributed among various sectors. If the employment in a region is highly concentrated on a limited number of sectors, that region is industrially specialized. On the contrary, when the employment is more evenly distributed among various industries, that region is highly diversified in its industrial organization. In this context, some researchers recognized that diversity and specialization are not opposite concepts. Instead, they can coexist, for example in the form of diversified specializations. In this study, this body of literature was extended by formulating an indicator to measure the extent of multiple specializations in regional economies and by examining the effect of multiple specializations on regional economic performance. Empirical analysis showed that specializing in multiple industrial pursuits helped regions to achieve both faster and more stable economic growth. View Full-Text
Keywords: economic structure; diversity; specialization; economic growth and stability economic structure; diversity; specialization; economic growth and stability
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Hong, S.; Xiao, Y. The Influence of Multiple Specializations on Economic Performance in U.S. Metropolitan Areas. Sustainability 2016, 8, 963.

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