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

  • 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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    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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    1. Risto Vaittinen, 2004. "Trade Policies and Integration - Evaluations with CGE Models," Research Reports 109, Government Institute for Economic Research Finland (VATT).
    2. Matthew W. Peter & Mark Horridge & G.A.Meagher & Fazana Naqvi & B.R.Parmenter, 1996. "The Theoretical Structure of MONASH-MRF," Centre of Policy Studies/IMPACT Centre Working Papers op-85, Victoria University, Centre of Policy Studies/IMPACT Centre.
    3. Mark D. Partridge & Dan S. Rickman, 1998. "Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal," International Regional Science Review, , vol. 21(3), pages 205-248, December.
    4. Hannu Törmä & Thomas Rutherford & Risto Vaittinen, 1995. "What Will EU Membership and the Value-Added Tax Reform Do to Finnish Food Economy? - A Computable General Equilibrium Analysis," Discussion Papers 88, Government Institute for Economic Research Finland (VATT).
    5. Valkonen, Tarmo, 2002. "Demographic Uncertainty and Taxes," Discussion Papers 816, The Research Institute of the Finnish Economy.
    6. Jones, Rich & Whalley, John, 1989. "A Canadian regional general equilibrium model and some applications," Journal of Urban Economics, Elsevier, vol. 25(3), pages 368-404, May.
    7. Hannu Törmä & Thomas Rutherford, 1993. "Integrating Finnish Agriculture into EC," Research Reports 13, Government Institute for Economic Research Finland (VATT).
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