Convergence and Public Investiment: Regional Policies Revisited
University of Vigo, GEN (Governance and Economics Research Network)
Diego Martínez Lopez
Fundacion Centro de Estudios Andaluces (CENTRA)
February 2, 2009
REGIONAL ECONOMIC POLICY IN EUROPE: NEW CHALLENGES FOR THEORY, EMPIRICS AND NORMATIVE INTERVENTIONS, Ulrike Stierle-von Schutz, Michael H. Stierle, Frederic B. Jennings Jr., Adrian Kuah, eds., Edward Elgar, Chentelham, 2008
The aim of this paper is to add new arguments to the debate on the redesign of regional policies. After revising the main factors involving regional economic growth, we provide empirical evidence on the impact caused by the regional policy on convergence. Particularly, we have checked that the traditional regional policy based on infrastructures has not reduced disparities across Spanish regions over the 80's and 90's, despite its redistributive pattern and a high degree of private capital mobility. R&D expenditures appear to be a relevant policy tool to modify the dynamics of regional income per capita, although its true relevance needs to be studied more deeply at regional level. Finally, a number of recommendations are supplied in order to redefine European and Spanish regional policies.
Number of Pages in PDF File: 30
Keywords: infrastructures, convergence, growth, R&D spending
JEL Classification: H54, R58
Date posted: February 2, 2009 ; Last revised: February 19, 2009
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