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Modelling European Regional Policy 2007--2013: Applied General Equilibrium Analysis of the Economic Impact on the Madrid Region

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  • Jose-Ramon Monrobel
  • Angeles Camara
  • Miguel-Angel Marcos

Abstract

The main purpose of this study was to present an applied general equilibrium model to the economy of the Madrid region. The model developed is considered a neoclassical version of the Walrasian equilibrium, modelling production sectors on perfect competition, full use of production factors and the clearing of all markets of goods. The model thus enables the second objective of the study: to estimate the impact of the 2007--2013 Structural Funds received on the economy of the Madrid region. The effects resulting from the injection of the funds are quantified by simulations performed using the developed model. This analysis of the quantification of effects is extremely important, as the priority objectives of the European Regional Policy have changed with respect to the previous period. In the current operational programme, the Madrid region comes under the regional competitiveness objective, which focuses on the priorities of innovation, research, the information society and business development. The sectors that have traditionally benefited, mainly infrastructure, therefore give way to others and the injection of funds into the Madrid economy is to be through other areas. In addition, there has been a reduction of the European aid received by our Region, as compared with previous Programmes.

Suggested Citation

  • Jose-Ramon Monrobel & Angeles Camara & Miguel-Angel Marcos, 2013. "Modelling European Regional Policy 2007--2013: Applied General Equilibrium Analysis of the Economic Impact on the Madrid Region," European Planning Studies, Taylor & Francis Journals, vol. 21(2), pages 264-280, February.
    • Handle: RePEc:taf:eurpls:v:21:y:2013:i:2:p:264-280
    DOI: 10.1080/09654313.2012.722925
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    Cited by:

    1. Ramajo Hernández, Julián & Márquez Paniagua, Miguel Ángel & De Miguel Vélez, Francisco Javier, 2014. "Economic impact of the European Funds in Extremadura during the period 2007-2013," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 29, pages 113-128.
    2. María Teresa Álvarez-Martínez & Clemente Polo, 2017. "The short-run effects of EU funds in Spain using a CGE model: the relevance of macro-closures," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 6(1), pages 1-17, December.
    3. Manuel Alejandro Cardenete & María del Carmen Delgado, 2015. "Impact assessment of European funds in Andalusia 2007-2013. A CGE approach," Working Papers 2015-001, Universidad Loyola Andalucía, Department of Economics.
    4. Álvarez-Martínez, María, 2014. "The Effects of European Structural Funds in the Spanish Regions Using CGE Models: a review," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 29, pages 129-138.
    5. Cardenete Flores, M.Alejandro & Delgado López, María Del Carmen & Fuentes Saguar, Patricia D., 2013. "Análisis del impacto de los Fondos Europeos en Andalucía: 2000-2006/Impact Assessment of the European Funds in Andalusia: 2000-2006," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 31, pages 247(26)-247, Enero.
    6. Cardenete, Manuel Alejandro & Delgado, M. Carmen, 2015. "A simulation of impact of withdrawal European funds on Andalusian economy using a dynamic CGE model: 2014–20," Economic Modelling, Elsevier, vol. 45(C), pages 83-92.
    7. Mario Fortuna & Francisco Silva & Ana Medeiros, 2016. "A CGE approach to measuring the impacts of EU structural funds in a small open economy," Papers in Regional Science, Wiley Blackwell, vol. 95(3), pages 507-538, August.

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