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Minutes - Appendix 1 - Transcript of Item 6

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Nội dung chi tiết: Minutes - Appendix 1 - Transcript of Item 6

Minutes - Appendix 1 - Transcript of Item 6

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6e UniversityProject TeamSoji Adelaja Yohannes Haihi Mark Wykoff Eric B. BaileyLPI ReportMay, 2008About the Project Team MembersSoji AdelajaDr. Soji Ad

elaja is the John A. Hannah Distinguished Professor in Land Policy and (he director of (he Land Policy Institute at Michigan State University (MSU). H Minutes - Appendix 1 - Transcript of Item 6

e holds joint faculty appointments as professor in the Departments of Agricultural, Food and Resource Economics; Geography; and Community, Agriculture

Minutes - Appendix 1 - Transcript of Item 6

, Recreation and Resource Studies. Dr. Adelaja holds an undergraduate degree from Pennsylvania State University, two Master’s degrees from West Virgin

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6Agriculture and Natural Resources, dean of Cook College, executive director of the New Jersey Agricultural Experiment Station, and director of Rutgers

Cooperative Extension, all at Rutgers University. Previously, at Rutgers University, he was a faculty member where serving in various capacities, inc Minutes - Appendix 1 - Transcript of Item 6

luding the dean of Research for Cook College, chair of Agricultural Economics, founding director of the Food Policy Institute, founding director of (h

Minutes - Appendix 1 - Transcript of Item 6

e Food Innovation Center, and founding director of the Ecopolicy Center. Recognition and awards include the Rutgers Presidential Award for Distinguish

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6s to the Garden State, and the NAREA Award for Outstanding Contr ibutions to Public Policy through Economics. Dr. Adelaja's research programs span a v

ariety of areas. He is best known for his work in land use policy at the urban fringe, strategic growth policy and public/private partnerships.Yohanne Minutes - Appendix 1 - Transcript of Item 6

s G. HailuDr. Yohannes G. Hailu is visiting assistant professor and associate director of the Hannah Professor Research Program at LP1 at Michigan Sta

Minutes - Appendix 1 - Transcript of Item 6

te University. He is responsible for programmatic leadership of projects and initiatives of the Hannah Professor Research Program in Land Policy. He h

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6 natural amenities in economic growth, linkages between growth and land use change, economic growth and inequality, renewable energy policy and land p

olicy analysis.iiMark WyckoffMark Wyckoff is the director of die Planning and Zoning Center at MSL and senior associate director ot I.PI, as well as e Minutes - Appendix 1 - Transcript of Item 6

ditor ot the monthly publication, Planning and Zoning News. He is a driving force on the outreach services of P7.C. and I Pl. He has 30 years of appli

Minutes - Appendix 1 - Transcript of Item 6

ed planning experience in Michigan at the Stale, regional and local levels, with most UÍ it as a private consultant. Mark lias also been an assistant

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6y of Michigan and a Master’s degree in Urban Planning horn Michigan Stale University.Erie BaileyEric Bailey was a Research Assistant at LPI between 20

04 and 2007. His research engagements focus on rhe areas of community economic development and the role of the New Economy in fostering economic growt Minutes - Appendix 1 - Transcript of Item 6

h. I le holds a Bachelors of Science degree in Environmental Economics and Policy from MSU. and is currently in the closing stages in a Masters of Sci

Minutes - Appendix 1 - Transcript of Item 6

ence degree program in Agricultural Economics. Prior to attending MSU. Eric attained an Associate of Science degiee in general agriculture from the Co

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6iiOLD vs. NEW ECONOMY: HOW STATES GROW THE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.AbstractGlobally and locally, we have entered an increasingly compe

titive economic environment that raises numerous policy challenges on how to spur economic growth in such a dynamic environment. At the center of this Minutes - Appendix 1 - Transcript of Item 6

new paradigm, economic growth strategy is targeting key factors that are potent in driving economic growth in what is called the “New Economy.” Tradi

Minutes - Appendix 1 - Transcript of Item 6

tional economic policies and development strategies that focused on investment and job attraction through tax incentives, and perhaps unskilled labor

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6ased on a complex, diversified and integrated economy shaped by the use of information and communication technologies, talent and strong linkage with

global markets. Even though the New Economy strategy is widely discussed, practical evidence and measured distinction with the Old Economy in performa Minutes - Appendix 1 - Transcript of Item 6

nce is not sufficiently available.This study focuses on (1) Developing a framework that will allow decomposition of major indicators of growth into th

Minutes - Appendix 1 - Transcript of Item 6

eir New and Old Economy components to measure the role of New Economy factors in driving new growth; (2) Measuring the Old and New-Economy share in po

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6o a New Economy sustainable growth path.Anecdotal observation of data indicates that Michigan ranks 23Id in the nation on economic indicators, 24th in

demographic indicators, 2O’h in green infrastructure indicators and has an overall ranking of 23rd in New Economy indicators. Simple correlation betw Minutes - Appendix 1 - Transcript of Item 6

een economic performance in per capita income and the mean New Economy score suggests that states with a high New Economy score have higher per capita

Minutes - Appendix 1 - Transcript of Item 6

income levels, suggesting an interesting relationship between New Economy readiness and potential for economic growth.Results based on decomposition

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 680 percent of the employment change and a substantial amount of the wage growth. These results conclusively indicate that increasingly, a larger share

of new growth is expected to come from New Economy readiness and associated paradigm shifts and mindset changes.Major policies and strategies identif Minutes - Appendix 1 - Transcript of Item 6

ied in this study for New Economy based paradigm shifts are (1) Ability to increase per capita income and wages through consistent increase in product

Minutes - Appendix 1 - Transcript of Item 6

ivity. Increased income and wages will also attract population; (2) Investment in higher education is an important consideration as it impacts employm

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6 and contributeivsignificantly to productivity and wage growth; (4) Immigrant population can be a key determinant of economic performance. Results ind

icate that population growth is related to immigration, and inflow of skilled and educated immigrants increases economic performance and creates new o Minutes - Appendix 1 - Transcript of Item 6

pportunities; and (5) Green infrastructure is also a relevant New Economy factor that can drive growth. Evidence from this study suggests that green i

Minutes - Appendix 1 - Transcript of Item 6

nfrastructure significantly influences population and job growth. Expenditure on green infrastructure is also found to have a positive impact on growt

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6hat many states still have economies predominantly characterized by an Old Economy structure means that in an increasingly competitive and dynamic glo

bal environment shaped by movement of talent, venture capital, entrepreneurial spirit and green infrastructure assets, they will experience a shrinkin Minutes - Appendix 1 - Transcript of Item 6

g share of new economic growth. Two, the lack of a paradigm shift both in mindset and policy implementation based on Old Economy principles means that

Minutes - Appendix 1 - Transcript of Item 6

new growth opportunities will be missed and economic performance can deteriorate. The New Economy paradigm offers an alternative economic growth stra

OLD vs. NEW ECONOMY: HOW STATES GROWTHE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Hannah Professor Research Program Land Policy Institute Michigan State

Minutes - Appendix 1 - Transcript of Item 6in green infrastructure can attract talent, which can attract venture capital and entrepreneurial culture that spur new growth in a reinforcing cycle.

As such, a paradigm shift in organizing economic activities and resource reallocation will be a cornerstone in designing and implementing new economi Minutes - Appendix 1 - Transcript of Item 6

c growth strategies. This is particularly relevant in states like Michigan where new growth is critically needed.VOLD vs. NEW ECONOMY: HOW STATES GROW

Minutes - Appendix 1 - Transcript of Item 6

THE ROLES OF NEW ECONOMY DRIVERS IN THE U.S.Table of ContentsAbout the Project Team Members..........................................................

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