Economic and social impact assessments of developmental initiatives are often undertaken by independent analysts and rarely is an integral approach adopted. It is here argued that economic impact assessment can facilitate social impact assessment and simultaneously improve the accuracy of employment estimation, by distinguishing between various socio-demographic groups. In turn, the assessment of the socio-demographic composition of the local community has direct implications for the accuracy of the economic impact assessment. A methodology for a more integrated approach to economic and social impact assessment is developed herein and is empirically estimated. Compared to traditional, independent approaches, it is held that this approach yields improved estimates of changes in a community's employment and socio-demographic structure.
ASJC Scopus subject areas
- Geography, Planning and Development
- Economics and Econometrics
- Strategy and Management
- Statistics, Probability and Uncertainty
- Management Science and Operations Research