ABSTRACT
Previous chapters of this book have largely focused on analysing and benchmarking the global competitiveness of regions based on their revealed ‘performance’ across a range of related metrics. This chapter suggests that such performance measurement should form part of a suite of regional benchmarking exercises that also cover the benchmarking of the processes and institutions underlying the functioning of regional economic systems, as well as the public policies that impact on regional economic performance. In essence, it is argued that regional competitiveness benchmarking exercises should employ a ‘3P’ methodology encompassing the performance, process, and policy contexts as a means of providing a rounded assessment and evaluation of the economic development trajectories of regions.
