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The imperial treasury: appraisal methodology and regional economic performance in the UK

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  • Diane Coyle
  • Marianne Sensier

Abstract

The disparity between the least and most productive regions in the UK is wide by the standards of many other Organisation for Economic Co-operation and Development (OECD) economies. An important factor is the concentration of public investment around London. The appraisal process for infrastructure investment projects follows the methodology set out in HM Treasury’s The Green Book. It is argued that this methodology has reinforced the regional imbalance; that recent changes are unlikely by themselves to redress the London bias in infrastructure; and that infrastructure investments also need to be based on a strategic view about economic development for the whole of the UK.

Suggested Citation

  • Diane Coyle & Marianne Sensier, 2020. "The imperial treasury: appraisal methodology and regional economic performance in the UK," Regional Studies, Taylor & Francis Journals, vol. 54(3), pages 283-295, March.
    • Handle: RePEc:taf:regstd:v:54:y:2020:i:3:p:283-295
    DOI: 10.1080/00343404.2019.1606419
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    References listed on IDEAS

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    1. Mauro Pisu & Barbara Pels & Novella Bottini, 2015. "Improving infrastructure in the United Kingdom," OECD Economics Department Working Papers 1244, OECD Publishing.
    2. Dave Donaldson, 2018. "Railroads of the Raj: Estimating the Impact of Transportation Infrastructure," American Economic Review, American Economic Association, vol. 108(4-5), pages 899-934, April.
    3. Bent Flyvbjerg, 2014. "What You Should Know About Megaprojects, and Why: An Overview," Papers 1409.0003, arXiv.org.
    4. Itf, 2018. "Strategic Investment Packages," International Transport Forum Policy Papers 51, OECD Publishing.
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    Citations

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    Cited by:

    1. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
    2. Mark Fransham & Max Herbertson & Mihaela Pop & Margarida Bandeira Morais & Neil Lee, 2023. "Level best? The levelling up agenda and UK regional inequality," Regional Studies, Taylor & Francis Journals, vol. 57(11), pages 2339-2352, November.
    3. John Holden & Marianne Sensier & Richard Allmendinger, 2021. "The North West of England's Productivity Challenge: Exploring the issues," Insight Papers 003, The Productivity Institute.
    4. Luca, Davide, 2022. "National elections, sub-national growth: the politics of Turkey's provincial economic dynamics under AKP rule," LSE Research Online Documents on Economics 112682, London School of Economics and Political Science, LSE Library.
    5. Adrian Pabst & Andrew Westwood, 2021. "The Politics of Productivity: institutions, governance and policy," Working Papers 015, The Productivity Institute.
    6. Stansbury, Anna & Turner, Dan & Balls, Ed, 2023. "Tackling the UK's Regional Economic Inequality: Binding Constraints and Avenues for Policy Intervention," SocArXiv d42xq_v1, Center for Open Science.
    7. Mortimer-Lee, Paul & Adrian Pabst, 2022. "Covid-19 and Productivity: Impact and Implications," National Institute of Economic and Social Research (NIESR) Occasional Papers 62, National Institute of Economic and Social Research.
    8. Patrick Minford & Yue Gai & David Meenagh, 2022. "North and South: A Regional Model of the UK," Open Economies Review, Springer, vol. 33(3), pages 565-616, July.
    9. Daniel Aparicio-Pérez & Maria Teresa Balaguer-Coll & Emili Tortosa-Ausina, 2023. "On the relative contributions of national and regional institutions to economic development," Working Papers 2023/01, Economics Department, Universitat Jaume I, Castellón (Spain).
    10. Andrew Westwood & Marianne Sensier & Nicola Pike, 2021. "Levelling Up, Local Growth and Productivity in England," Insight Papers 005, The Productivity Institute.
    11. Abeer Al Yaqoobi & Marcel Ausloos, 2022. "An Intergenerational Issue: The Equity Issues due to Public-Private Partnerships. The Critical Aspect of the Social Discount Rate Choice for Future Generations," Papers 2201.09064, arXiv.org.
    12. Marianne Sensier & Elvira Uyarra, 2020. "Investigating the Governance Mechanisms that Sustain Regional Economic Resilience and Inclusive Growth," Economics Discussion Paper Series 2005, Economics, The University of Manchester.
    13. Sensier, Marianne & Devine, Fiona, 2020. "Understanding Regional Economic Performance And Resilience In The Uk: Trends Since The Global Financial Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 253, pages 18-28, August.
    14. repec:ehl:lserod:115939 is not listed on IDEAS
    15. Boris Hananovich Krasnopolski, 2020. "Far Eastern Russia as a Macro Region: The Infrastructure Aspect," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 3, pages 181-196.
    16. Davide Luca, 2022. "National elections, sub-national growth: the politics of Turkey’s provincial economic dynamics under AKP rule [Shift-share designs: theory and inference]," Journal of Economic Geography, Oxford University Press, vol. 22(4), pages 829-851.
    17. Marianne Sensier & Fiona Devine, 2020. "Levelling up Regional Resilience Following the Coronavirus Pandemic," Economics Discussion Paper Series 2008, Economics, The University of Manchester.

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    More about this item

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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