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Explaining regional economic performance: An historical application of a dynamic multi-regional CGE model

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  • James Giesecke

Abstract

A multi-regional dynamic computable general equilibrium model of the Australian economy ( federal-f) is used to identify the causes of the divergent growth performance of two Australian regional economies (Tasmania and the rest of Australia) over the period 1992–1993 to 1998–1999. These causes are traced to a large number of structural and policy changes in the two economies. Ultimately, no simple or mono-causal explanation for the divergent growth experience is found – the relatively slow growth of the Tasmanian economy is the net effect of a large number of countervailing influences. Nevertheless, from among these many influences, it is possible to distinguish those that had a sizeable impact from those that had a negligible impact. Copyright Regional Science Association International (RSAI) Urbana, USA 2002

Suggested Citation

  • James Giesecke, 2002. "Explaining regional economic performance: An historical application of a dynamic multi-regional CGE model," Review of Economic Design, Springer;Society for Economic Design, vol. 81(2), pages 247-278, April.
    • Handle: RePEc:spr:reecde:v:81:y:2002:i:2:p:247-278
    DOI: 10.1007/s101100100100
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    Cited by:

    1. Hiroyuki SHIBUSAWA & Yuzuru MIYATA, 2011. "Evaluating The Dynamic And Spatial Economic Impacts Of An Earthquake: A Cge Application To Japan," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 13-25, December.
    2. Mardones D., Cristián, 2012. "Chile: building a computable general equilibrium model with an application to the Bío Bío region," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    3. James A Giesecke & John R Madden, 2006. "Uncovering the Factors behind Comparative Regional Economic Performance: A Dynamic CGE Approach," Centre of Policy Studies/IMPACT Centre Working Papers g-165, Victoria University, Centre of Policy Studies/IMPACT Centre.
    4. Robson, Edward N. & Wijayaratna, Kasun P. & Dixit, Vinayak V., 2018. "A review of computable general equilibrium models for transport and their applications in appraisal," Transportation Research Part A: Policy and Practice, Elsevier, vol. 116(C), pages 31-53.
    5. Harvey Cutler & Stephen Davies, 2010. "The Economic Consequences of Productivity Changes: A Computable General Equilibrium (CGE) Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1415-1426.
    6. Mark Partridge & Dan Rickman, 2010. "Computable General Equilibrium (CGE) Modelling for Regional Economic Development Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1311-1328.
    7. James A. Giesecke & John R. Madden, 2013. "Evidence-based regional economic policy analysis: the role of CGE modelling," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 6(2), pages 285-301.
    8. Peter B. Dixon & Maureen T. Rimmer, 2023. "What do GTAP databases tell us about technologies for industries and regions?," Centre of Policy Studies/IMPACT Centre Working Papers g-340, Victoria University, Centre of Policy Studies/IMPACT Centre.
    9. Giesecke, James A. & Madden, John R., 2013. "Regional Computable General Equilibrium Modeling," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 379-475, Elsevier.
    10. Andrew Feltenstein & Florenz Plassmann, 2008. "The Welfare Analysis of a Free Trade Zone: Intermediate Goods and the Asian Tigers," The World Economy, Wiley Blackwell, vol. 31(7), pages 905-924, July.
    11. James Giesecke, 2008. "A Top-down Framework for Regional Historical Analysis," Spatial Economic Analysis, Taylor & Francis Journals, vol. 3(1), pages 45-87.
    12. Dan S. Rickman, 2010. "Modern Macroeconomics And Regional Economic Modeling," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 23-41, February.
    13. Plassmann, Florenz, 2005. "The advantage of avoiding the Armington assumption in multi-region models," Regional Science and Urban Economics, Elsevier, vol. 35(6), pages 777-794, November.
    14. repec:hrs:journl::v:3:y:2011:i:2:p:13-25 is not listed on IDEAS
    15. James Giesecke & John Madden, 2010. "Uncovering the Factors behind Comparative Regional Economic Performance: A Multi-regional Computable General Equilibrium (CGE) Approach," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1329-1349.
    16. James Giesecke & John R. Madden, 2003. "Regional Labour Market Adjustment to Competition Policy Reforms: A Dynamic CGE Framework for Assessment," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 6(3), pages 409-433, September.
    17. repec:elg:eechap:14395_2 is not listed on IDEAS

    More about this item

    Keywords

    JEL classification: D58; R13; Key words: Multi-regional CGE; dynamic CGE; regional growth; divergence;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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