Overview
Uses an established method, Optimal Control Theory, to solve the economic problem of equity vs efficiency in the allocation of funds
Explores how to design optimal regional policies
Addresses the growing need for effective policy making
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Table of contents (5 chapters)
Keywords
- Regional policy
- Equity
- Efficiency
- Spatial inequalities
- Development planning
- Optimal control theory
- Long-run persistence
- Regional disparities
- Regional economics
- Regional development
- Economic policy
- Europe 2020
- National income
- Regional allocation of investment
- Interregional inequalities
- Regional policy design
About this book
Applying the principles of Optimal Control Theory to the problem of regional allocation of investment can be a useful tool for demonstrating how the trade-off between regional equity and overall efficiency can be overcome. This book poses the following questions: are spatial inequalities harmful for overall efficiency? How is the economist to assist the policy-maker in establishing generally applicable criteria or policies when the aims include equity as well as efficiency? Alexiadis analyses the 'equity versus efficiency' dilemma in the allocation of scarce resources, expressing the argument in mathematical terms; an issue of particular importance in development planning and programming.
This is invaluable reading for final year and postgraduate students of regional, development and mathematical economics, as well as researchers, policy makers and all those working in regional development institutions.
Authors and Affiliations
About the author
Stilianos Alexiadis is Economics Researcher in the Division of Documentation and Agricultural Statistics at the Ministry of Rural Development and Foods, Greece. Alexiadis holds a PhD in Economics from Manchester Metropolitan University, UK, and has teaching experience at Piraeus University and in higher education colleges in Greece. His research interests include regional growth, regional convergence, regional policy, policy evaluation, cumulative growth, technology clusters and R&D labour distribution.
Bibliographic Information
Book Title: The Dilemma of Regional Policy
Book Subtitle: Increasing ‘Efficiency’ or Improving ‘Equity’?
Authors: Stilianos Alexiadis
DOI: https://doi.org/10.1007/978-3-319-68900-5
Publisher: Palgrave Pivot Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018
Hardcover ISBN: 978-3-319-68899-2Published: 17 November 2017
eBook ISBN: 978-3-319-68900-5Published: 06 November 2017
Edition Number: 1
Number of Pages: XV, 117
Number of Illustrations: 5 b/w illustrations
Topics: Regional/Spatial Science, Economic Theory/Quantitative Economics/Mathematical Methods, Public Economics, Development Economics