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Measuring Technological Spillovers in a Financial Center by using “Feder” Model

Author

Listed:
  • Arnaud Bourgain

    (University of Luxembourg)

  • Patrice Pieretti

    (University of Luxembourg)

Abstract

The aim of this paper is to measure technological spillovers between banking activities and non financial activities and in particular market services related to finance. The econometric estimations are realized within a dynamic framework due to Feder (1982). For that purpose, we use data for Luxembourg. Due to its very small-size and to the importance of its international banking center, this country suits well for analyzing spatially-mediated externalities. The empirical estimations show significant technological externalities from the financial services industry to non-financial market services and in particular to Computer Activities and Business Services.

Suggested Citation

  • Arnaud Bourgain & Patrice Pieretti, 2007. "Measuring Technological Spillovers in a Financial Center by using “Feder” Model," Economics Bulletin, AccessEcon, vol. 18(8), pages 1-9.
    • Handle: RePEc:ebl:ecbull:eb-07r10006
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    References listed on IDEAS

    as
    1. Wang, Eric C., 2000. "A dynamic two-sector model for analyzing the interrelation between financial development and industrial growth," International Review of Economics & Finance, Elsevier, vol. 9(3), pages 223-241, July.
    2. Rosenthal, Stuart S. & Strange, William C., 2004. "Evidence on the nature and sources of agglomeration economies," Handbook of Regional and Urban Economics, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 49, pages 2119-2171, Elsevier.
    3. Odedokun, M. O., 1996. "Alternative econometric approaches for analysing the role of the financial sector in economic growth: Time-series evidence from LDCs," Journal of Development Economics, Elsevier, vol. 50(1), pages 119-146, June.
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    Cited by:

    1. Riadh Ben Jelili, 2012. "Revisiting the Finance-Growth Nexus: Further Evidence from Tunisia," Middle East Development Journal, Taylor & Francis Journals, vol. 4(1), pages 1250001-121, January.

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    Keywords

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    JEL classification:

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

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