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Barriers to Diversification and Regional Allocation of Capital

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  • Broll, Udo
  • Roldán-Ponce, Antonio
  • Wahl, Jack E.
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    Abstract

    In order to evaluate the allocational effectiveness of regional policy when harmonizing regional economic conditions firms? preferences play a pivot role. If harmonization hinders risk diversification of the firm, then instead of regional diversification of capital agglomeration of capital occurs. Hence, regional policy will not achieve its objective to equal the spatial allocation of capital. --

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    File URL: http://econstor.eu/bitstream/10419/22755/1/DDPE200714.pdf
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    Bibliographic Info

    Paper provided by Dresden University of Technology, Faculty of Business and Economics, Department of Economics in its series Dresden Discussion Paper Series in Economics with number 14/07.

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    Date of creation: 2007
    Date of revision:
    Handle: RePEc:zbw:tuddps:1407

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    Postal: 01062 Dresden
    Phone: ++49 351 463 2196
    Fax: ++49 351 463 7739
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    Web page: http://www.tu-dresden.de/wiwi/
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    Related research

    Keywords: Regional policy; agglomeration; diversification; allocation; risk aversion; prudence;

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    1. Miles S. Kimball, 1989. "Precautionary Saving in the Small and in the Large," NBER Working Papers 2848, National Bureau of Economic Research, Inc.
    2. Udo Broll & Jack E. Wahl & Wing-Keung Wong, 2005. "Elasticity of risk aversion and international trade," Monash Economics Working Papers 07/05, Monash University, Department of Economics.
    3. Michael Pflüger & Jens Südekum, 2004. "Integration, Agglomeration and Welfare," Working Papers of the Research Group Heterogenous Labor 04-24, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim.
    4. José Pedro Pontes & John B. Parr, 2005. "A note on agglomeration and the location of multinational firms," Papers in Regional Science, Wiley Blackwell, vol. 84(3), pages 509-518, 08.
    5. José Pedro Pontes, 2005. "Intermediate goods and the location of productive activity," The Annals of Regional Science, Springer, vol. 39(1), pages 11-24, 03.
    6. Meyer, Jack, 1987. "Two-moment Decision Models and Expected Utility Maximization," American Economic Review, American Economic Association, vol. 77(3), pages 421-30, June.
    7. Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
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