Regional differences require governments to rethink economic policy
According to a new report by the Organisation for Economic and Cultural Development (OECD), a growing gap between regions within a country will require a dramatic shift in how governments craft economic policies to spur growth and create jobs.
OECD’s first Regional Outlook found that on average 70% of the economic
growth of OECD countries occurs outside the big metropolitan hubs – contrary to the long-held belief that larger metropolitan areas were the generators of growth.
Furthermore, says the report, “predominantly rural regions can be among the slowest-growing regions in the OECD, they are also over-represented among the most dynamic,” and, therefore, need to be involved in developing national economic policy.
Access the full OECD report.