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Regional business cycles and the emergence of sheltered economies in the southern periphery of Europe

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Author Info

  • Andrés Rodríguez-Pose

    (London School of Economics, College of Europe)

  • Ugo Fratesi

    (Politecnico di Milano - Department of Building Environment Science and Technology (BEST))

Abstract

Recent research has highlighted that in the last few years the evolution of regional disparities in many European states has become pro-cyclical. This represents a change with respect to the predominantly anti-cyclical pattern of the 1960s and 1970s. This paper addresses the question of whether and when this change has taken place in the southern periphery of Europe, before analyzing the factors that may have played a role in such a change. The analysis relies on a regional database that includes the evolution of the GDP per capita of NUTS II regions in five European countries (France, Greece, Italy, Portugal, and Spain) between 1980 and 2000. The results of the analysis support the hypothesis of a change towards a pro-cyclical evolution of regional disparities in the cases of Italy, Portugal, and Spain, but not in those of Greece and France. A relationship between these pro-cyclical patters and the emergence of less dynamic sheltered economies is also detected in peripheral regions. This lack of dynamism is related to the fact that numerous peripheral areas in southern Europe have become increasingly dependent on factors such as transfers or public investment and employment, and therefore are less exposed to changes in market conditions.

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Bibliographic Info

Paper provided by European Economic Studies Department, College of Europe in its series Bruges European Economic Research Papers with number 7.

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Length: 26 pages
Date of creation: Nov 2006
Date of revision:
Handle: RePEc:coe:wpbeer:7

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Keywords: Peripheral regions; business cycles; sheltered economies; convergence; France; Greece; Italy; Portugal; Spain. JEL codes: E32; R11.;

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References

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  1. repec:fth:eeccco:142 is not listed on IDEAS
  2. George Petrakos & Andr�s Rodr�guez-Pose & Antonis Rovolis, 2005. "Growth, integration, and regional disparities in the European Union," Environment and Planning A, Pion Ltd, London, vol. 37(10), pages 1837-1855, October.
  3. Quah, Danny T., 1996. "Regional convergence clusters across Europe," European Economic Review, Elsevier, vol. 40(3-5), pages 951-958, April.
  4. Costas Megir & Danny Quah, 1996. "Regional Convergence Clusters Across Europe," CEP Discussion Papers dp0274, Centre for Economic Performance, LSE.
  5. K.H. Midelfart & H.G. Overman & S.J. Redding & A.J. Venables, 2000. "The location of European industry," European Economy - Economic Papers 142, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  6. Quah, Danny, 1996. "Regional Convergence Clusters Across Europe," CEPR Discussion Papers 1286, C.E.P.R. Discussion Papers.
  7. Karen Helene Midelfart-Knarvik & Henry G. Overman, 2002. "Delocation and European integration: is structural spending justified?," Economic Policy, CEPR & CES & MSH, vol. 17(35), pages 321-359, October.
  8. Puga, Diego, 2001. "European Regional Policies in Light of Recent Location Theories," CEPR Discussion Papers 2767, C.E.P.R. Discussion Papers.
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Cited by:
  1. Emilio Espino & Julian Kozlowski & Juan M. Sánchez, 2013. "Regionalization vs. globalization," Working Papers 2013-002, Federal Reserve Bank of St. Louis.
  2. Pike, Andy & Rodríguez-Pose, Andrés & Torrisi, Gianpiero & Tselios, Vassilis & Tomaney, John, 2010. "In search of the ‘economic dividend’ of devolution: spatial disparities, spatial economic policy and decentralisation in the UK," DEMQ Working Paper Series 2010/9, University of Catania, Department of Economics and Quantitative Methods.
  3. HIRATA Hideaki & Ayhan KOSE & Christopher OTROK, 2013. "Regionalization vs. Globalization," Discussion papers 13004, Research Institute of Economy, Trade and Industry (RIETI).
  4. Stefano Magrini & Margherita Gerolimetto & Hasan Engin Duran, 2011. "Distortions in Cross-Sectional Convergence Analysis when the Aggregate Business Cycle is Incomplete," Working Papers 2011_07, Department of Economics, University of Venice "Ca' Foscari".
  5. Andrea Elekes, 2011. "Cohesion and/or Growth?," Public Finance Quarterly, State Audit Office of Hungary, vol. 56(1), pages 108-124.
  6. Ageliki Anagnostou & Ioannis Panteladis & Maria Tsiapa, 2012. "Disentangling Different Patterns of Business Cycle Synchronicity in The EU Regions," ERSA conference papers ersa12p924, European Regional Science Association.
  7. Salá Rios, Mercé & Farré Perdiguer, Mariona & Torres Solé, Teresa, 2011. "El ciclo económico de Cataluña. Un análisis de la simetría respecto a España y a la UEM/Catalonia's Business Cycle. An Analysis of the Symmetry in Relation to Spain and the EMU," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 29, pages 913 (24 pá, Diciembre.
  8. Hasan Engin Duran, 2011. "Short-run dynamics of income disparities and regional cycle synchronization," Working Papers 2011_09, Department of Economics, University of Venice "Ca' Foscari".

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