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The game-theory analysis of regional econmic policy

MA Li,PANG Xiao min,

地理研究 , 2001,
Abstract: As the regional problems are usually regarded as a result of'market failure', traditional regional economic policies are basically based on the assumed rationality of 'government intervention'and concerned mainly the benefit of objective area. Considering the fact that many regional policies aiming at enhancing the benefit of the objective area have resulted in the negative effect on the benefit of non objective area at the same time, we attempt to study the regional policy issue with application of game theory. Firstly, we analyze the driving forces for regional division. Based on the hypothesis that the motivation for a region to take part in the regional cooperation and division is the increased benefits, we compare the ratio of benefits to cost, and find that the exchange ratio of specialized products of two regions is the main decisive element. Then, we probe into the effect of economic policy on the dynamics of regional competition and regional division. Different regional policies will change the game model of regional competition and division through changes of regional benefits. Also, we find that the reasonable exchange ratio of specialized products in division should be based on the ratio of product cost before division. At last, we give a game theory analysis of the effect of China's regional policy. Many regional problems in the development of China's regional economy were largely the result of playing games at regional level in order to maximize each region's own benefits. Especially, unreasonable price system gave limitations to the development of regional cooperation and division.As a whole, some conclusions have been achieved as follows: (1)It is the economic benefit that motivates a region to take part in regional division. (2)The price ratio on of the specialized products is the main element that works on the process and result of regional competition and division. (3)The regional policy particularly set out for one area will influence all areas that have economic relations with it.
Regional economic growth and equilibrium as well as the regional policy
Kocziszky Gy?rgy
Marketing ì Mened?ment Innovacìj , 2012,
Abstract: This paper presents a theoretical review of possibilities for a change in paradigm in regional policy, which is part of both territorial policy and economic policy. Advantages and disadvantages of each kind of regional policy are analyzed. Causes and results of the economic depression and its influence on Hungarian economic and regional policy are shown. Desirable directions of a paradigm change in Hungarys regional policy are proposed.
Iuliana-Noemi Bomher
CES Working Papers , 2011,
Abstract: Europeanization is a valuable concept for explaining the impact of EU policies at domestic level and especially of regional policy development in Romania. The relative low discrepancies and the low levels of development that Romania faced after almost fifty years of centralized planning resulted apparently in no need for a regional policy. This policy was ‘built’ in order to meet the EU financial assistance and Romania had to re-think its centre-region relation and to acquire a new vision over the policy of regional development.The following paper will try to analyze whether the current regional policy managed to have the expected impact in Romania, with short emphasis on the concepts of regionalism, regional competitiveness and economic agglomerations.
Regional Economic Development Policy and Regional Economic Growth Convergence in China, 1952-2000

GUO Teng-Yun,XU Yong,YANG Guo-An,

中国科学院研究生院学报 , 2006,
Abstract: In this paper, the regional economic growth convergence across provinces in China during the period 1952-2000 is scrutinized using an econometric model. The results in this paper provide new insights on regional economic growth change across provinces in China during the period. On the whole, there were no regional economic growth convergences in terms of per capita real GDP during the period 1952-2000. But during the sub-periods with relatively favorable economic development environment in the sample period, there were not only absolute b convergences, but also conditional b convergences during the sub-periods 1979-2000, 1979-1990; and during the sub-period 1990-2000 there was conditional b convergence; whereas during the sub-period 1966-1979, which was full of political turmoil, there was no convergence at all, there was an evident divergence instead. The empirical analysis also shows that there were significant associations between regional economic growth convergences and regional development policy statistically. With the introduction of regional policy variable in the econometric model the b convergences become even more evident and significant statistically, which further reveal that effect of regional development policy on regional economic development is essential in Chinese regional economic development. So in the course of regional economic development as long as the Chinese central government and local governments bring into full play of regional economic growth convergence and give full support to the underdeveloped areas in China from policy side, the increasingly regional economic disparities can be kept within limits efficiently.
The new economic geography and regional policy in Romania  [PDF]
Raluca Irina CLIPA,Ion POHOA??,Flavian CLIPA
Theoretical and Applied Economics , 2012,
Abstract: The aim of our paper is to capture, using logical analysis and graphic modelling, the implications of the new economic geography (NEG) in terms of regional policy in Romania, aiming to answer the question whether NEG and agglomeration economies should concern the policy makers in our country. The analysis of the macroeconomic model based on the interdependencies between regional disparities, agglomeration and economic growth shows that in the case of coreperiphery dual regional structured economies, the cohesion policy effects can be avoided, in that the central agglomeration will generate a higher growth rate at national level, but with the price of amplifying the existent regional disparities. One way of dampening this negative effect over Romania is to launch an innovation and knowledge-promoting policy, by developing regional innovation systems.
Regional Economic Disparity in China,and Suggestions on Policy Making

XU Xiao-hong,

浙江大学学报(人文社会科学版) , 2006,
Abstract: The open and market-based economic reforms in China have resulted in the rapid economic development in the recent decades.However, unbalanced development of regional economies is worsening.This paper analyses the regional disparities of economic development among three eastern metropolitan centers,eastern coastal provinces,the central region,the western region and among all 31 provinces between 1991-2003.The absolute disparities among both the four regions and all provinces have increased annually.Their growth rates have varied over time,but have all increased since 2000.The relative disparities among both the four regions and all provinces varied over time,and have increased since 1995.Also,in every year between 1991-2003,both the absolute and relative disparity among the four regions were larger than those among all provinces.This suggests that the regional disparity of economic development among the four regions is worse than that among all provinces.If this regional economic disparity persists,it may lead to economic and political instability in China.There are various and complicated reasons which caused this regional disparity of economic development in China.There are historically accumulated factors and modern subjective factors,including:(1) The geographic factor.For example,two eastern regions have better infrastructures for transportation.(2) Preferential financial and tax policies toward eastern and coastal regions.((3)Uneven) market-based reforms in the four regions: Two eastern regions have a higher percentage of non-state-owned enterprises than central and western regions.(4) Regional differences in agricultural to industrial ratios.(5) More educated and skilled workers are in the eastern regions than in the central and western regions.(6) Disparity between urban and rural areas.Finally this paper suggests new strategies and policy making to help reduce this regional disparity and develop balanced regional economies.(1) To adopt preferential financial and tax policies toward less developed regions,such as the central and west regions.(2) To attract more educated and skilled workers to less developed central and western regions.(3) To set up a national information network.(4) To enforce market-based reform in all regions equally and strengthen the vitality of market economy.(5) To maximize the efficiency of regional economies with a balance between fairness and productivity.(6) To speed up agricultural development by linking it with global economy.It is expected that these suggestions would be helpful to those who are choosing strategies of regional development,and may relieve potential social conflicts caused by increasing regional disparity of economic development.
Calburean Raluca
Annals of the University of Oradea : Economic Science , 2010,
Abstract: Environmental policy has become an object for description and analysis. A global environmental mechanism intents to promote collective action at the international scale and to build an integrated environmental policymaking and management framework concerning the tasks of a shared global ecosystem. Governments use a number of different types of environmental policy instruments to implement their environmental policies: legislative, technical and economic-financial instruments. The encounter is to combine the environmental protection with continuing economic growth in an over the long term sustainable way. This paper tries to underline that there is an under appreciation of the adaptability of social structures even within economics of environmental policy, to the extent that it is necessary to fully acknowledge and highlight the inborn trade-off between economy and environment.
Impact of Monetary Policy on Economic Growth in Nigeria
Ajibola Ayodeji, Adeyemi Oluwole
Open Access Library Journal (OALib Journal) , 2018, DOI: 10.4236/oalib.1104320
The paper examined the impact of monetary policy on economic growth in Nigeria by developing a model that is able to investigate how monetary policy of the government has affected economic growth through the use of multi-variable regression analysis. We proxied the variables of monetary policy instruments to include: Money Supply (MS), Exchange Rate (ER), Interest Rate (IR), and Liquidity Ratio (LR). Economic growth was represented by Gross Domestic Product (income) at constant prices. Unit root test was conducted and all our estimating variables were stationary at first difference except the component of interest rate which shows that our model interpretation would not be spurious and a true representation of the relationships that exists between the explained and explanatory variables. Error Correction Model was introduced in our estimation in order to have a parsimonious model. From our result, two variables (money supply and exchange rate) had a positive but fairly insignificant impact on economic growth. Measures of interest rate and liquidity ratio on the other hand, had a negative but highly significant impact on economic growth which supports the assertion by Busari et al. (2002) that monetary policies are better suited when they are used in targeting inflation rather than in stimulating growth. In addition, Engle-Granger co-integration test was done and showed the existence of a long run relationship between monetary policy and economic growth in Nigeria. Finally, granger causality test was done on our variables and the results showed the existence of a uni-directional causality between money supply and economic growth, economic growth granger causing liquidity ratio and exchange rates while a bi-directional causality exists between interest and economic growth. We recommend that partial autonomy should be replaced with full autonomy for the central banks in Nigeria which is invariably subjected to government interference and its politics. Finally, monetary policies should be used to create a favorable investment climate by facilitating the emergency of market based interest rate and exchange rate regimes that attract both domestic and foreign investments.

Zhang Wenzhong,

地理科学进展 , 1998,
Abstract: This paper focuses on a study of the targets and methods of regional policy, and their roles in the regional economic development from the angle of economic locational theory. Furthermore, it raise up some viewpoints: (1) governments at different levels or policy making departments, through locational policy, such as improvement of investment environment, Locational allowance and inclination of locational policy, can induce or confine space choice of individual or enterprise's behavior in economic activities and implement the effective, harmonious and continuous development of national territory; (2) The main functions of locational policy in the regional economy can be described as fellows. First, it can make the margins of profit space expand or narrow; second, it can speed or slow the concentration or decentralization of industry; third, it stimulates to form new industrial locational points, and it reduces the difference of regional economy.
Macroeconomic Synchronization and Policy Coordination After Regional Economic Integration in the Americas El impacto de la integración económica regional en la sincronización macroeconómica y la coordinación de políticas L’impact de l’intégration économique régionale sur la synchronisation macroéconomique et la coordination des politiques
Helen Chang
IdeAs : Idées d’Amériques , 2011,
Abstract: In spite of many significant differences between high-income and developing country partners in the North American Free Trade Agreement (NAFTA), business cycle synchronization has followed increased trade integration in the post-NAFTA period. There is also some preliminary support for some convergence between Dominican Republic-Central American Free Trade Agreement (CAFTA-DR) economies post-CAFTA-DR, although it is too soon to reach any significant conclusions. Macroeconomic synchronization has important implications for policy making because it indicates the need for and benefits from policy coordination. Policy coordination with high-income partners may benefit developing country partners by reducing macroeconomic volatility and increase stability, when macroeconomic variability is due to common shocks and not country-specific shocks. Idiosyncratic volatility would require monetary and fiscal policy autonomy rather than coordination. Examining policy coordination between NAFTA states and between CAFTA-DR members, I find little evidence for policy coordination before and after implementation of the FTA. For the developing partners in NAFTA and CAFTA-DR, even as trade integration shrinks the available policy options for member states, the costs of losing policy autonomy largely outweigh the benefits of coordination because of the idiosyncratic macroeconomic variability of the developing partners. A pesar de las numerosas diferencias significativas que existen entre los países de renta alta y los países en desarrollo miembros del Tratado de Libre Comercio de América del Norte (TLCAN), la sincronización de los ciclos económicos ha seguido a una integración comercial en aumento desde la entrada en vigor del TLCAN. Asimismo, existen pruebas de que algunas economías del CAFTA-DR (Tratado de Libre Comercio entre República Dominicana, Centroamérica y Estados Unidos) muestran también una cierta convergencia de los ciclos económicos pese a que es demasiado pronto para llegar a conclusiones relevantes en un periodo tan corto de tiempo. La sincronización macroeconómica es importante para la toma de decisiones, dado que expresa la necesidad de coordinar políticas y muestra las ventajas de dicha coordinación. La coordinación de políticas con los socios con rentas elevadas puede beneficiar a los países en desarrollo gracias a la reducción de la volatilidad macroeconómica y al aumento de la estabilidad cuando la variabilidad macroeconómica se debe a perturbaciones comunes y no a desajustes específicos de un país. La volatilidad idiosincrática requeriría la autonomía de
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