DIRECTIONS FOR DIVERSIFICATION WITH AN APPLICATION TO SASKATCHEWAN*
研究了区域多样化政策在稳定性和生活水平之间的权衡，发现追求区域自给自足和背离比较优势的多样化可能不可取。
ABSTRACT. Traditional models of regional diversification do not capture the trade‐off between stability and living standards. In this paper, we characterize regions as open activity models subjected to both productivity and price shocks. We then partially rank small diversification policies by the direction in which they point away from the current industrial structure in mean‐variance space. Some general patterns emerge. In particular, diversification for regional self‐sufficiency and away from regional comparative advantage may be undesirable.