REGIONAL ECONOMIC-GROWTH BY POLICY-INDUCED CAPITAL FLOWS .2. POLICY SIMULATION RESULTS

This second part of the paper refers to a model, described in Part I, that has been designed to analyze alternative allocation strategies of regional economic growth policy: ''movement of the workers to the job s'' (passive factor stocks adjustment) or ''jobs to the workers'' (act ive factor stocks adjustment). After concentrating on the main propert ies of the model structure, the references of the parameters and initi al values to empirical data are discussed. Model results derived on th e basis of parameters representative for the case of passive adjustmen t policy are studied, also extensively taking account of the impacts o f parameter variations. Then follows the analysis of simulation result s of active adjustment. The main purpose of all calculations is to dem onstrate that the model is able to generate reasonable and consistent policy effects. Moreover, with respect to the model and its parameters this paper attempts to contribute to finding a solid standpoint as to the preconditions of a successful active regional economic policy.