Europeans worry about competition from low-wage economies. This column looks at the basis of the success of the 19th-century Lancashire cotton industry faced with a similar situation. The message is that the productivity benefits of a successful agglomeration can underpin both high wages and competitive advantage in world trade. Policymakers can support such agglomerations by easing land-use restrictions, promoting investments in transport, and providing local public goods.
CITATION STYLE
Crafts, N., & Wolf, N. (2013). Competing successfully in a globalising world: Lessons from Lancashire. Retrieved from http://www.voxeu.org/article/agglomeration-explains-lancashire-s-high-wage-success
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