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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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    File URL: http://www.accessecon.com/pubs/EB/2007/Volume18/EB-07R10006A.pdf
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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.
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    Keywords

    Agglomeration Effects;

    JEL classification:

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

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