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This report explores patterns of regional economic growth in Australia over the period 1984 to 2002 in order to identify the drivers of variation in regional growth. It attempts to identify regional opportunities and the policies and practices that assist in realising them, in particular, the potential contribution of the vocational education and training (VET) sector to regional growth.
- National growth over the last two decades has not been equally spread. Key metropolitan regions have been the main beneficiaries of national growth, while other regions generally have had declining growth.
- Traditional regional growth theories, focused on an ‘institutional’ approach, are flawed because they fail to take account of:
- global capitalism
- the ways in which business relationships are conducted
- the dynamics of regional economies.
- Human capital, in particular ‘enterprising’ human capital, whereby individuals take responsibility for action, is the key driver of regional growth. Other drivers include access to high technology, greater industry specialisation and less government intervention.
- The VET sector’s size and its significant presence in the regions means that it is ideally placed to play a key role in regional growth by:
- developing enterprising skills, knowledge and cultures
- using its connections with business to establish regional coalitions that link regional attributes, objectives, strategies, investment and VET programs.
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