Title page

Contents

Abstract 2

1. Introduction 4

2. Seeking efficiency and equity through territorial development policy 5

3. The role of institutions in territorial development 7

4. Regional diversification and avoiding development traps 10

5. Agency, leadership, and resilience in territorial development 13

6. Policy implications for inclusive territorial development 14

6.1. Foundations for Inclusive Territorial Development 14

6.2. From Theoretical Design to Empirical Implementation: Regional Clubs and the Complexity Matrix 16

6.3. The Limitations of Infrastructure Projects for a Place-Sensitive Approach to Development 18

7. Conclusion 18

References 20

Table 1. Summary of direct and indirect impacts of institutions on regional economic performance 8

Figure 1. Schematic representation of barriers to spillovers and efficiency gains in lagging regions 7

Figure 2. Summary of main areas of intervention for institutional development policies 10

Figure 3. Schematic representation of factors driving the emergence of regional specialization and diversification paths 12

Figure 4. Conceptual framework for the adaptation of regional development strategies to the local context 17