A FEASIBILITY STUDY FOR A MODEL OF THE SOUTH WEST ECONOMY

This thesis evaluates the usefulness of a range of regional economic models with respect to their application in the South West region. A theoretical evaluation of the models is conducted, and it is argued that dynamic, non-linear, theoretically adjustable models emerge as the most satisfactory techniques from a theoretical standpoint. However all the models are deficient in a wider sense, as none can incorporate the influence of variables like political decision making. To obtain a fuller view of the usefulness of these models it is necessary to examine how readily they can be implemented and the characteristics of such feasible models. Important drawbacks for studies of the South West region are identified. These arise because of the lack of small area, time series, seasonal and qualitative data and pose a major problem due to the heterogeneous, dynamic and environmentally attractive nature of the region. It is also argued that all feasible models are deficient in that most regional data sources contain errors i n some form, such as sampling error and discontinuities. These errors are identified for the main regional economic data sources. Despite all these drawbacks it is argued that all the feasible models have something to offer the regional analyst , as long as their theoretical defects are borne in mind. A number of useful studies could therefore be conducted, such as the analysis of regional trade using a non-survey input-output technique.EXETER UNIVERSITY, DEPARTMENT OF GEOGRAPH