A comparative evaluation of spacially targeted economic revitalization programs in the European Union and the United States
AbstractThis paper compares and contrasts the United States federal Empowerment Zone and European Union Objective 2 programs that geographically target economic revitalization incentives. Since 1989, both programs have designated predominately industrial or urban areas as being distressed and worthy of government incentives in three separate rounds. The paper uses a probit econometric model to comparatively evaluate the characteristics of the areas that were targeted. The paper finds that while the programs were fashioned for different reasons and thus had different goals, the programs on both continents initially targeted very distressed areas. However, consistent with the fears of critics of spatial targeting, subsequent rounds of designation greatly expanded the programs, and in most cases, lead to less precise targeting.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 03-2003.
Length: 33 pages
Date of creation: Jan 2003
Date of revision:
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
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