IDEAS home Printed from https://ideas.repec.org/p/man/sespap/1901.html
   My bibliography  Save this paper

The Imperial Treasury: Appraisal Methodology and Regional Economic Performance in the UK

Author

Listed:
  • 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 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 the Treasury’s Green Book. We argue 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, 2019. "The Imperial Treasury: Appraisal Methodology and Regional Economic Performance in the UK," Economics Discussion Paper Series 1901, Economics, The University of Manchester.
    • Handle: RePEc:man:sespap:1901
    as

    Download full text from publisher

    File URL: https://hummedia.manchester.ac.uk/schools/soss/economics/discussionpapers/EDP-1901.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. 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.
    2. Itf, 2018. "Strategic Investment Packages," International Transport Forum Policy Papers 51, OECD Publishing.
    3. Mauro Pisu & Barbara Pels & Novella Bottini, 2015. "Improving infrastructure in the United Kingdom," OECD Economics Department Working Papers 1244, OECD Publishing.
    4. Bent Flyvbjerg, 2014. "What You Should Know About Megaprojects, and Why: An Overview," Papers 1409.0003, arXiv.org.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. Adrian Pabst & Andrew Westwood, 2021. "The Politics of Productivity: institutions, governance and policy," Working Papers 015, The Productivity Institute.
    3. 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.
    4. 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.
    5. 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.
    6. Marianne Sensier & Fiona Devine, 2020. "Levelling up Regional Resilience Following the Coronavirus Pandemic," Economics Discussion Paper Series 2008, Economics, The University of Manchester.
    7. 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.
    8. 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.
    9. 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.
    10. repec:ehl:lserod:115939 is not listed on IDEAS
    11. 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.
    12. John Holden & Marianne Sensier & Richard Allmendinger, 2021. "The North West of England's Productivity Challenge: Exploring the issues," Insight Papers 003, The Productivity Institute.
    13. 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.
    14. 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).
    15. Andrew Westwood & Marianne Sensier & Nicola Pike, 2021. "Levelling Up, Local Growth and Productivity in England," Insight Papers 005, The Productivity Institute.
    16. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Finocchiaro Castro, Massimo & Guccio, Calogero & Rizzo, Ilde, 2023. "“One-size-fits-all” public works contract does it better? An assessment of infrastructure provision in Italy," Journal of Policy Modeling, Elsevier, vol. 45(5), pages 994-1014.
    2. Guangzhong Hu & Yuming Liu & Kai Liu & Xiaoxu Yang, 2023. "Research on Data-Driven Dynamic Decision-Making Mechanism of Mega Infrastructure Project Construction," Sustainability, MDPI, vol. 15(12), pages 1-25, June.
    3. Stephan Heblich & Stephen J Redding & Daniel M Sturm, 2020. "The Making of the Modern Metropolis: Evidence from London," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 2059-2133.
    4. Evgeny N. SMIRNOV & Sergey A. LUKYANOV, 2019. "Assessment of the transforming impact of global value chains on international trade," Upravlenets, Ural State University of Economics, vol. 10(3), pages 36-46, July.
    5. Pablo D. Fajgelbaum & Edouard Schaal, 2020. "Optimal Transport Networks in Spatial Equilibrium," Econometrica, Econometric Society, vol. 88(4), pages 1411-1452, July.
    6. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2021. "What Determines State Heterogeneity in Response to US Tariff Changes?," Working Papers 2021-007, Federal Reserve Bank of St. Louis, revised 08 Mar 2023.
    7. Alexander Budzier & Bent Flyvbjerg & Andi Garavaglia & Andreas Leed, 2019. "Quantitative Cost and Schedule Risk Analysis of Nuclear Waste Storage," Papers 1901.11123, arXiv.org.
    8. Kalemli-Özcan, Sebnem & Nikolsko–Rzhevskyy, Alex & Kwak, Jun Hee, 2020. "Does trade cause capital to flow? Evidence from historical rainfall," Journal of Development Economics, Elsevier, vol. 147(C).
    9. Bent Flyvbjerg & Alexander Budzier & M. D. Christodoulou & M. Zottoli, 2024. "Uniqueness Bias: Why It Matters, How to Curb It," Papers 2408.07710, arXiv.org.
    10. Bensch, Gunther & Gotz, Gunnar & Peters, Jörg, 2020. "Effects of rural electrification on employment: A comment on Dinkelman (2011)," Ruhr Economic Papers 840, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    11. Teresa Sequeira & Conceicao Rego & Andreia Dionisio, 2024. "Investment And Productivity In The Agro-Industrial Sector: A Case Study," Sustainable Regional Development Scientific Journal, Sustainable Regional Development Scientific Journal, vol. 0(2), pages 13-26, October.
    12. Das, Abhiman & Ghani, Ejaz & Grover, Arti & Kerr, William & Nanda, Ramana, 2024. "JUE insight: Infrastructure and Finance: Evidence from India’s GQ highway network," Journal of Urban Economics, Elsevier, vol. 142(C).
    13. de Soyres, François & Mulabdic, Alen & Ruta, Michele, 2020. "Common transport infrastructure: A quantitative model and estimates from the Belt and Road Initiative," Journal of Development Economics, Elsevier, vol. 143(C).
    14. Abu-Qarn, Aamer & Lichtman-Sadot, Shirlee, 2019. "Connecting Disadvantaged Communities to Work and Higher Education Opportunities: Evidence from Public Transportation Penetration to Arab Towns in Israel," IZA Discussion Papers 12824, Institute of Labor Economics (IZA).
    15. Vincent Leyaro, 2021. "Trade effects of the East Africa Customs Union in Tanzania: Application of a structural gravity model," WIDER Working Paper Series wp-2021-55, World Institute for Development Economic Research (UNU-WIDER).
    16. Stephan Maurer & Ferdinand Rauch, 2023. "Economic geography aspects of the Panama Canal," Oxford Economic Papers, Oxford University Press, vol. 75(1), pages 142-162.
    17. Pérez, Jorge & Vial, Felipe & Zárate, Román, 2022. "Urban Transit Infrastructure: Spatial Mismatch and Labor Market Power," Research Department working papers 1992, CAF Development Bank Of Latinamerica.
    18. zu Ermgassen, Sophus & Drewniok, Michal & Bull, Joseph & Walker, Christine Corlet & Mancini, Mattia & Ryan-Collins, Josh & Serrenho, André Cabrera, 2022. "A home for all within planetary boundaries: pathways for meeting England’s housing needs without transgressing national climate and biodiversity goals," OSF Preprints 5kxce, Center for Open Science.
    19. Bird, Julia & Straub, Stéphane, 2020. "The Brasília experiment: The heterogeneous impact of road access on spatial development in Brazil," World Development, Elsevier, vol. 127(C).
    20. Love, Peter E.D. & Ika, Lavagnon A. & Ahiaga-Dagbui, Dominic D., 2019. "On de-bunking ‘fake news’ in a post truth era: Why does the Planning Fallacy explanation for cost overruns fall short?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 126(C), pages 397-408.

    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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:man:sespap:1901. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Patrick Macnamara (email available below). General contact details of provider: https://edirc.repec.org/data/semanuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.