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Do Small Town Development Projects Matter, and Can CGE Help?


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  • Hannu T�rm�
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    Abstract Small regions and towns often experience problems such as high out-migration and unemployment. In these situations there is an urgent need to do something positive. Infrastructure development projects, partially financed by the national government, are a popular suggestion. We ponder the relevance of these actions in this paper in a context of project evaluation. We introduce computable general equilibrium (CGE) modelling as a complement of the other quantitative evaluation techniques. We will use the town of Lapua in South Ostrobothnia, Finland, which is planning to implement two large-scale infrastructure projects, as an example. Our simulation tool is the Finnish multi-sector and interregional CGE RegFin model. We consider the regional short-run effects of the construction phase, the long-run effects of new business activity and the so-called secondary effects based on the commuting and trade patterns of the households.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Spatial Economic Analysis.

    Volume (Year): 3 (2008)
    Issue (Month): 2 ()
    Pages: 247-268

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    Handle: RePEc:taf:specan:v:3:y:2008:i:2:p:247-268

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    Keywords: Infrastructure investment; quantitative project evaluation techniques; CGE RegFin regional model; macro and employment multiplier effects; C68; R11; R13;

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