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Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper introduces an island tourism multi-dimensional model. Its aim is to develop an approach for integrating quantitative models and qualitative techniques into a coherent and useful methodology. The island tourism multi-dimensional model is divided into several modules as presented in the paper. They include geographic information system applications, economic impact assessment, forecasting modeling, accessibility modeling, seasonality modeling and alternative modeling. Forecasting models, economic impact assessments and geographic information systems can be used to project forecasts and demonstrate sustainable and economic development issues. The paper demonstrates that the outcomes of the accessibility and seasonality modules can be used to generate strategic plans of marketing segments, service engagement and community involvement. It suggests that by using alternative modeling the output of quantitative analyses and the input of private, voluntary and public sectors at community, business and governmental levels can be integrated with each other. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

The economic growth literature suggests that knowledge spillovers are subject to distance decay effects. In this paper the main aim is to provide a theoretical framework and empirical evidence on the role played by other kinds of proximities, namely relational, social and technological proximity, in explaining productivity growth. Using a sample of 249 EU 27 NUTS 2 regions in the period 1990-2004, semiparametric spatial autoregressive models are estimated. Results provide evidence of a positive role of social and relational proximities as important channels of knowledge spillovers, and on the fact that, when simultaneously present, different kinds of proximities generate synergic effects on growth. Resumen La literatura sobre el crecimiento económico sugiere que los spillovers de conocimiento están sujetos a efectos de deterioro por distancia. El objetivo principal de este artículo es proporcionar un marco teórico y pruebas empíricas sobre el papel desempeñado por otros tipos de proximidades (relacional, social y tecnológica), a la hora de explicar el crecimiento de la productividad. Utilizando una muestra de 249 regiones NUTS 2 de la UE 27 para el período 1990-2004, se estiman modelos autorregresivos espaciales semiparamétricos. Los resultados aportan pruebas del papel positivo de las proximidades sociales y relacionales como canales importantes de spillovers de conocimientos, y del hecho de que, cuando se presentan simultáneamente, los diferentes tipos de proximidades generan efectos sinérgicos sobre el crecimiento. [ABSTRACT FROM AUTHOR]

This paper provides a spatial neoclassical growth model for a system of N regional economies. Regional output growth is determined by interregional fixed capital relocations which depend on initial factor endowments as well as a region's relative location in space. The dynamics of the model are captured by a Taylor approximation, which provides a testable spatial econometric model specification that is applied for European regions on the NUTS 2 level. Both theoretical and empirical results show how relatively high human capital endowments are beneficial to growth if found within one region, but disadvantageous if found in neighbouring regions. Este artículo proporciona un modelo de crecimiento neo-clásico espacial para un sistema de N economías regionales. El crecimiento del producto regional viene determinado por deslocalizaciones interregionales de capital fijo que dependen de la dotación de factores inicial, así como de la relativa localización espacial de una región. Las dinámicas del modelo son capturadas mediante una aproximación de Taylor, que proporciona una especificación comprobable de modelo econométrico espacial que se aplica a regiones europeas a nivel NUTS 2. Tanto los resultados teoréticos como los empíricos muestran como las dotaciones relativamente elevadas de capital humano son ventajosas para el crecimiento cuando se concentran en una región, pero una desventaja si se encuentran en regiones vecinas. [ABSTRACT FROM AUTHOR]

This paper analyses Europe's growth problem. Recovery from the recent global financial crisis and 'great recession' has been slower than after previous recessions in most advanced countries and areas, especially Europe. But the European growth problem is structural in character and it started much earlier. This paper analyses the structural causes of the European growth problem, evaluates the policies that Europe adopted to overcome it, and concludes that even with the appropriate policies, the prospects for accelerating growth in Europe will be difficult, especially in the context of Brexit and the slowdown of world growth in general. [ABSTRACT FROM AUTHOR]

According to Harvey (1988) , the forecasting ability of the term spread on economic growth is due to the fact that interest rates reflect investors' expectations about the future economic situation when deciding their plans for consumption and investment. Past literature has used ex post data on output or consumption growth as proxies for their expected value. In this paper, we employ a direct measure of economic agents' expectations, the Economic Sentiment Indicator elaborated by the European Commission, to test this hypothesis. Our results indicate that a linear combination of European yield spreads explains a surprising 93.7\% of the variability of the Economic Sentiment Indicator. This ability of yield spreads to capture economic agent expectations may be the actual reason for the predictive power of yield spreads about future business cycle. [ABSTRACT FROM AUTHOR]

This paper models externalities of production across regional economies. Under the assumption that knowledge diffuses without political or administrative barriers, we derive externalities that affect the steady state and the process of growth of each economy. The empirical counterpart of the reduced form equation summarizing the process of growth allows us to test for the presence of regional spillovers and to measure their magnitude. Our results for a sample of European regions show that spillovers are far from negligible, are robust to the consideration of variables within each region, and may cause nondecreasing returns at the spatial aggregate level. The paper also relates previous empirical evidence on spatial dependence in growth studies to the externalities modeled here. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In the coming years, the share of the working-age population in the total population will start to decline in all countries of the European Union. All other things remaining equal, this so-called demographic burden will have a downward effect on economic growth. This paper examines whether the Europe 2020 employment targets would be sufficient to compensate for the downward impact of demographic burden and whether the impact of demography on economic growth differs between EU countries and between urban and rural regions. The results show that raising employment rates to the Europe 2020 targets can restore positive opportunities for economic growth, but not in all countries and only to a limited extent. They also show that even though urban and rural regions differ in terms of population growth and growth of the working age population, the prospects for demographic burden are highly similar for both types of regions. [ABSTRACT FROM AUTHOR]