Abstract
Gillingwater D. (1974) Regional development in the United Kingdom: An estimate of economic performance, Reg. Studies 8, 115–132. A theoretical framework for a simple equilibrium model of regional economic development is discussed, based on relationships between levels of regional capital formation, output, employment and population. Its foundation rests on the interplay between changes in capital formation and population, capital formation being identified as the sine qua non of regional economic growth in the long run. The specification of this model is derived empirically for ten regions constituting the U.K. for the period 1961–1966. The structure of the model is then adapted and given a dynamic foundation in order to simulate aggregate regional development for the decade to 1971. Some preliminary results are discussed, indicating the possible differences in performance of comparative regional economies within the U.K. over a short period of time.
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