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Regional Business Cycles and the Emergence of Sheltered Economies in the Southern Periphery of Europe

  • ANDRÉS RODRÍGUEZ-POSE
  • UGO FRATESI

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 analysing 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 patterns 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. Copyright 2007 Blackwell Publishing.

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Article provided by Wiley Blackwell in its journal Growth and Change.

Volume (Year): 38 (2007)
Issue (Month): 4 ()
Pages: 621-648

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Handle: RePEc:bla:growch:v:38:y:2007:i:4:p:621-648
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  1. Puga, Diego, 2001. "European Regional Policies in Light of Recent Location Theories," CEPR Discussion Papers 2767, C.E.P.R. Discussion Papers.
  2. A. Rodriguez-Pose & Riccardo Crescenzi, 2006. "R&D, spillovers, innovatoin systems and the genesis of regional growth in Europe," Departmental Working Papers of Economics - University 'Roma Tre' 0067, Department of Economics - University Roma Tre.
  3. 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.
  4. 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 Financial Affairs (DG ECFIN), European Commission.
  5. Quah, Danny T., 1996. "Regional convergence clusters across Europe," European Economic Review, Elsevier, vol. 40(3-5), pages 951-958, April.
  6. Costas Megir & Danny Quah, 1996. "Regional Convergence Clusters Across Europe," CEP Discussion Papers dp0274, Centre for Economic Performance, LSE.
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  8. 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.
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