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Measuring Agglomeration Forces in a Financial Center

Author

Listed:
  • Patrice Pieretti

    () (University of Luxembourg)

  • Arnaud Bourgain

    () (University of Luxembourg)

Abstract

Basing on Scitovsky's (1954) definition of external economies and applying the method of Caballero and Lyons (1990) to macro data of Luxembourg services industry, we find significant agglomeration forces between financial intermediaries (downstream industry) on the one hand and business services and computer industry (upstream industries) on the other.

Suggested Citation

  • Patrice Pieretti & Arnaud Bourgain, 2006. "Measuring Agglomeration Forces in a Financial Center," Economics Bulletin, AccessEcon, vol. 18(3), pages 1-9.
  • Handle: RePEc:ebl:ecbull:eb-06r10002
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    File URL: http://www.accessecon.com/pubs/EB/2006/Volume18/EB-06R10002A.pdf
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    References listed on IDEAS

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    1. Basu, Susanto & Fernald, John G., 1995. "Are apparent productive spillovers a figment of specification error?," Journal of Monetary Economics, Elsevier, vol. 36(1), pages 165-188, August.
    2. Caballero, Ricardo J. & Lyons, Richard K., 1992. "External effects in U.S. procyclical productivity," Journal of Monetary Economics, Elsevier, vol. 29(2), pages 209-225, April.
    3. Knarvik, Karen Helene Midelfart & Steen, Frode, 1999. " Self-Reinforcing Agglomerations? An Empirical Industry Study," Scandinavian Journal of Economics, Wiley Blackwell, vol. 101(4), pages 515-532, December.
    4. Tibor Scitovsky, 1954. "Two Concepts of External Economies," Journal of Political Economy, University of Chicago Press, vol. 62, pages 143-143.
    5. Mankiw, N Gregory, 1989. "Real Business Cycles: A New Keynesian Perspective," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 79-90, Summer.
    6. Bartelsman, Eric J & Caballero, Ricardo J & Lyons, Richard K, 1994. "Customer- and Supplier-Driven Externalities," American Economic Review, American Economic Association, vol. 84(4), pages 1075-1084, September.
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    Cited by:

    1. Abdelaziz Rouabah, 2007. "Co-variation des taux de croissance sectoriels au Luxembourg: l?apport des corrélations conditionnelles dynamiques," BCL working papers 25, Central Bank of Luxembourg.

    More about this item

    JEL classification:

    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • L8 - Industrial Organization - - Industry Studies: Services

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