Harvey W. Armstrong

A Comparison of the Economic Performance of Different Micro-states, and Between Micro-states and Larger Countries

The economic performance of micro-states and those sub-national regions enjoying a high degree of autonomy is a generally under-researched area. This paper builds on earlier research (Armstrong and Read, 1995) by employing quantitative techniques to test: 1. (a) the extent to which the economic performance of micro-states differs, by comparing their GNP per capita with that of the region in which they are located and with the countries to which they are adjacent; 2. (b) whether some micro-states perform better than others as a result of differences in their economic structure; and 3. (c) whether the rates of growth of micro-states have been faster or slower than those of larger countries. Considerable diversity among micro-states is revealed, although most exhibit strong economic performance.

Western European micro-states and EU autonomous regions: The advantages of size and sovereignty

Abstract Western Europe has a large number of sovereign micro-states and, in addition, there are also a number of regions of the European Union (EU) which have an unusually high degree of autonomy. This paper examines the economic performance of these micro-states and autonomous regions which is found to be superior to that of adjacent EU regions. The strong economic performance of these micro-states and autonomous regions is shown to be closely related to activity in the financial services sector, tourism and, where present, natural resources. Complex differences among the group of micro-states and autonomous regions are also revealed.

The Local Income and Employment Impact of Lancaster University

The paper presents the results of an analysis, using Keynesian local open economy multipliers, of the impact of Lancaster University upon income and employment in the local city and surrounding hinterland area. The results of the University impact analysis are contrasted with similar analyses of Heysham 2 nuclear power station and two local manufacturing firms. The results of the impact analysis are used in a speculative manner to consider the effects of a planned expansion of student numbers at Lancaster in the 1990s.

European Union Regional Policy: Reconciling the Convergence and Evaluation Evidence

This chapter considers whether there is a case for attempting to reconcile two recent research literatures in the European Union (EU). The first is the quickly expanding one on regional growth processes within the EU. The research here encompasses both theoretical analysis, involving several distinct growth theories, and empirical work largely based on REGIO data sets. The second literature is that which focuses on the evaluation of EU regional policy. It is a particularly appropriate time to consider the evaluation evidence given the recently completed round of official ex post evaluations of the 1994–1999 Structural Funds programmes.

Regional Selective Assistance: Is the Spend Enough and Is It Targeting the Right Places?

This article examines the UK Regional Selective Assistance scheme, and critically appraises on-going reforms. These reforms have been triggered by the process of redrawing the map of eligible areas within new European Commission competition policy guidelines. A recent UK government White Paper on competitiveness has also led to significant changes being considered. It is argued that while the existing reforms have not fundamentally changed the nature of Regional Selective Assistance, they may well be harbingers of more threatening challenges, particularly after 2006.

Domestic savings, intra-national and intra-European Union capital flows, 1971–1991

Abstract This paper examines the relationship between savings and investment for the pre-1995 twelve members of the EU during the period 1971–1991. The results of the statistical analysis suggest that the capital market of the members of the EU resembles that of intra-national regions, implying a considerable degree of capital market integration. This conclusion, however, is subject to several caveats. The relationship between savings and investment in the case of Portugal, for example, is unusual.

THE EVALUATION OF COMMUNITY ECONOMIC DEVELOPMENT INITIATIVES

Community economic development (CED) initiatives expanded rapidly in urban and regional policy in the 1990s. Traditional evaluation methodology has, however, proved to be extremely difficult to apply effectively to CED. This paper examines existing monitoring and evaluation procedures for CED, the problems faced in applying traditional methodology and possible ways forward to ensure that more effective monitoring and evaluation can be undertaken. Evidence is drawn from four detailed case studies of urban CED projects funded as part of the 1994-96 Yorkshire and the Humber Objective 2 Structural Funds programme. These case studies were deliberately designed to experiment with alternative quantitative and qualitative evaluation methods.

Maximising the local economic, environmental and social benefits of a university: Lancaster University.

The paper presents the main conclusions from an in-depth study of the local economic, social and environmental impacts of Lancaster University in 1991/92. The likely impacts of further expansion at the University through to the year 2001 are explored. Lancaster University is revealed as having major environmental and social impacts as well as the more widely researched employment and income multiplier effects. Lessons are drawn from the Lancaster University experience which are likely to be of a general nature and can assist other universities seeking to maximise their local benefits and minimise their local cost impacts. The local impacts of universities are likely to need much more careful management than has occurred in the past if detrimental effects are to be avoided.

The role of transport costs as a determinant of price level differentials between the isle of man and the United Kingdom, 1989

The Isle of Man experiences price levels which, for consumer convenience goods, are some 10% higher than those in nearby regions of the UK mainland. The observed price differentials indicate incomplete economic integration with the United Kingdom. This paper presents the results of two major research projects undertaken on behalf of the Isle of Man Board of Consumer Affairs by a team of researchers at Lancaster University. The research analyzes the role which transport costs to the island play in determining the observed price differentials between the Isle of Man and the United Kingdom. Transport costs (both marine and road haulage) were found to account for only a relatively small part of the observed price differentials. Other major causes of price differentials between the island economy and the mainland were found to include: high stockholding and inventory costs; the failure to exploit economies of scale fully in the on-island wholesaling and retailing sectors (as a result of small market size); and imperfect competition among island business sectors. The study highlights the difficulties faced in integrating island and mainland economies. Freight transport improvements alone cannot eliminate price differentials.

Microstates And Subnational Regions: Mutual Industrial Policy Lessons

Small nation-states and subnational regions share many similarities in terms of the challenges faced in implementing successful industrial policies. Globalization and the emergence of supranational organizations such as the European Union are also making the two sets of entities much more similar over time. This article argues that recent research advances are revealing that policy makers in small nations and regions can share important policy lessons. In particular, extensive recent research on industrial clusters, the determinants of economic growth, and new regional governance structures is generating a number of important policy lessons. The mutual lessons being exposed by this research suggest strategic policy stances for smaller nation-states and regions that significantly differ from those of larger countries and industrial giant regions.