The focus of this paper is peripheral urban growth centres on the edges of capital cities in Australia and the challenges they face as dormitory suburbs attempting to establish their own local business development. These challenges create dilemmas as infrastructure and climate change place pressure on long commuting times, while developing strong locally based communities is limited by many resource and demand constraints. The main research question is to examine how these challenges are being addressed in both public policy and academic research. Two propositions emerge from this analysis. The first is that, despite clear recognition of these challenges by public policy makers, there is a lack of coherent policy vision in addressing the dilemmas that are facing these urban growth centres. The second is that, despite all the concerns and lack of policy vision, there is a dearth of useful academic research in Australia to understand the dilemmas and provide guidance for appropriate policy options. In the context of ad hoc policy and academic neglect; Casey, Melton and Wyndham are the three major urban peripheral local government areas in Victoria that are profiled in this paper. They serve as examples in examining incoherence of policy and then analysing the elements that are needed for effective and strong peripheral growth centres that could propel these centres towards efficient and equitable liveable communities. A broad composite model of regional economic development is used to examine the attendant problems in these urban centres and the various viable policy options for addressing these problems. In the process, this paper aims to provide a basis for further rigorous academic investigation of peripheral urban growth centres in Australia and, arising from this, more coherent policies for the economic development of such centres. [ABSTRACT FROM AUTHOR]
Since the origins of the Industrial Revolution in Britain, innovation and investment have been crucial to capitalism and economic development. This chapter sets up a link between innovation and investment in historical time, without reference to any static equilibrium. In this manner, the relationship between the instability of cycles and growth trends can be identified. Australian data is then used to identify important linkages between these two crucial elements.