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Determining Economic Contributions and Impacts: What is the difference and why do we care?

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Author Info

  • Watson, Philip
  • Wilson, Joshua
  • Thilmany, Dawn D.
  • Winter, Susan

Abstract

Economic contribution and impact studies are common tasks for regional economists, but the semantics of the discipline suffer from a lack of standardization with respect to dif-ferences between economic contributions, impacts and benefits. These terms refer to 3 dis-tinct metrics which are useful for answering different questions and each has situations when their use is appropriate. This article provides a pedagogical and methodological framework for how and when these terms should be applied in the context of regional eco-nomic analysis. Past studies are reviewed and a standardized semantic is presented. It is recommended that economists working in this field use a more explicit and unified termi-nology and methodology when conducting regional economic analysis.

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File URL: http://purl.umn.edu/132414
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Bibliographic Info

Article provided by Mid-Continent Regional Science Association in its journal Journal of Regional Analysis and Policy.

Volume (Year): 37 (2007)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:ags:jrapmc:132414

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Web page: http://jrap-journal.org/index.htm
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Related research

Keywords: Financial Economics; Productivity Analysis;

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Cited by:
  1. Elena G. Irwin & Andrew M. Isserman & Maureen Kilkenny & Mark D. Partridge, 2010. "A Century of Research on Rural Development and Regional Issues," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(2), pages 522-553.
  2. Gunter, Allison & Goemans, Chris & Pritchett, James G. & Thilmany, Dawn D., 2012. "Linking an Equilibrium Displacement Mathematical Programming Model and an Input-Output Model to Estimate the Impacts of Drought: An Application to Southeast Colorado," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124930, Agricultural and Applied Economics Association.
  3. Terance J. Rephann, 2011. "The Economic Impact of the Horse Industry in Virginia," Reports 2011-02, Center for Economic and Policy Studies.

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