Bargaining and Development: Towards an Alternative Equilibrium Model for Regions and Peripheries

Christina Barbarousi

Department of Planning and Regional Development, School of Engineering, University of Thessaly, Greece

Abstract: The region and the periphery are crucial for regional policy and inevitably contribute to strengthening economic, social and territorial development of the European Union. However, the literature review provides clear answers on their role neither in endogenous development theory nor in Cohesion Policy. In effect, this is regional development without regions. Thus, the reason regional growth is threatened, slowed or stopped is because there has been a failure of framework. The paper explores the alternative interpretation of development for regions and peripheries as territories in one model, which strengthens their role by mixing endogenous development theory and bargaining process.