Explaining the Level of Relative Investment Specialisation: A Spatial Econometric Analysis of EU Regions
AbstractThis paper analyses the level of relative specialisation in terms of gross fixed capital formation in EU regions. Larger market and regional sizes diminish; a higher unemployment rate, population density, the fact of being a central region, the distance to the economic centre, and economic liberalisation increase the level of specialisation. These results are not sensitive to differing formulations of the specialisation indicator. Accounting for spatial dependence by the use of spatial econometric tools, negative spatial interactions probably due to data inconsistencies are present. However, the results of classical econometric estimates are robust. --
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Bibliographic InfoPaper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 02-49.
Date of creation: 2002
Date of revision:
Economic Geography; Regional Economics; Capital Allocation; Spatial Econometric Analysis;
Find related papers by JEL classification:
- F2 - International Economics - - International Factor Movements and International Business
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
- F15 - International Economics - - Trade - - - Economic Integration
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