Europe and the Latin Arc Countries
- New Horizons in Regional Science series
Edited by Roberto Camagni and Roberta Capello
7. The Latin Arc Antonio Affuso and Ugo Fratesi 7.1 INTRODUCTION In the previous chapters we have analysed the elements of territorial capital that play a role in explaining the differential growth rates of provinces with respect to their regions. As we have seen in Chapter 5, we are not able to capture all the effects. Some data, such as those describing the system of cultural elements and values which attribute sense and meaning to local practices and structures and define local identities, are not available, although they should be considered because they can boost the internal capacity to exploit local potentials. Hence, for exogenous reasons, the MAN-3 model is not able to take account of all the aspects of territorial capital which inspired its design. As we shall see at the end of this chapter, it is possible to overcome this limitation by means of a simple procedure able to take into account provincial specificities and which is labelled ‘fine-tuning’. This ought to provide a first response to the serious difficulty of considering all the variables affecting economic growth due to data problems and econometric issues which prevent the use of too many regressors at the same time. No scenario exercise, however, is fruitful if it is unable to increase understanding of the mechanisms which work at territorial level and bring policy consequences. This also requires information which is more place specific than that obtainable from pure modelling results. Whence derives the need to apply the scenarios to a...
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