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Market potential and welfare: evidence from the Iberian Peninsula

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Abstract

We present a methodology to quantify market potential in the context of an economic geography model. The model is then applied to the NUTS 2 regions of Portugal and Spain. Some results can be pointed out. First, the Iberian Peninsula presents a clear centre-periphery pattern. The market potential pike is situated in the region of Madrid, followed very closely by Cataluña and Pais Vasco. Also all Portuguese regions are at the bottom of the market potential rank, i.e.: Portugal is at the periphery of Spain. Second, the regional welfare index confirms market potential results. There is therefore a direct correlation between market potential and regional welfare. Third, a scenario of complete integration between the Portuguese and the Spanish economy is favourable to the most laggard regions. On the contrary, the most advanced regions of each country loose a little. However, ‘lock-in’ effects allow the most central regions to continue in the forefront of development and welfare. Copyright Springer-Verlag Berlin/Heidelberg 2005

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  • Armando Pires, 2005. "Market potential and welfare: evidence from the Iberian Peninsula," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 4(2), pages 107-127, August.
    • Handle: RePEc:spr:portec:v:4:y:2005:i:2:p:107-127
    DOI: 10.1007/s10258-005-0044-4
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    Cited by:

    1. Nicola D. Coniglio & Francesco Prota, 2011. "Economic Crises and Regional Convergence in the EU: An Exploration of Facts, Theories and Policy Implications," Chapters, in: Wim Meeusen (ed.), The Economic Crisis and European Integration, chapter 5, Edward Elgar Publishing.
    2. Moutinho, Ricardo & Au-Yong-Oliveira, Manuel & Coelho, Arnaldo & Manso, José Pires, 2015. "Beyond the “Innovation's Black-Box”: Translating R&D outlays into employment and economic growth," Socio-Economic Planning Sciences, Elsevier, vol. 50(C), pages 45-58.
    3. Katharina Fellnhofer, 2017. "Facilitating entrepreneurial discovery in smart specialisation via stakeholder participation within online mechanisms for knowledge-based policy advice," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1296802-129, January.

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