Abstract
There has been considerable and increasing interest in the possibility of applying regional science models to problems in economic policy. The aim of such applications is summarised by Isard (1975, p. 495) as ranging from accurate description of present economic states and trends, to planning of industries, towns and transport facilities and at the most complicated level to ‘proposing the structure and functions of a new mode within the hierarchical structure of the world order, capable of evolving and administering a world environmental-management policy and a multiregion development program’. Despite such aims, however, the models used in regional science often show little consideration for the effects of policy in the formulation of their equations; there is often a complete lack of specification of any policy instruments with which to operate policy, and most models are based on static equilibrium assumptions.
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Bennett, R.J., Tan, K.C. (1979). Stochastic control of regional economies. In: Bartels, C.P.A., Ketellapper, R.H. (eds) Exploratory and explanatory statistical analysis of spatial data. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-9233-7_10
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DOI: https://doi.org/10.1007/978-94-009-9233-7_10
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