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Regional External Economies and Economic Growth under Asymmetry


  • Dmytro Holod

    () (Department of Finance, College of Business, State University of New York at Stony Brook, Stony Brook, NY 11794, USA)

  • Robert R. Reed

    () (Department of Economics, Finance, and Legal Studies, Culverhouse College of Business, University of Alabama, Tuscaloosa, AL 35487, USA)


In this article, we explore the impact of regional external economies from human capital accumulation on economic growth. In particular, we allow the extent of local and regional spillovers to vary between the home and foreign economies. Our analysis yields novel insights regarding the diffusion of knowledge across countries. In contrast to the standard, closedeconomy Lucas (1988) model, spillovers within the home country may adversely affect growth in the presence of substantial knowledge flows from the foreign country.

Suggested Citation

  • Dmytro Holod & Robert R. Reed, 2009. "Regional External Economies and Economic Growth under Asymmetry," Southern Economic Journal, Southern Economic Association, vol. 75(4), pages 1123-1140, April.
  • Handle: RePEc:sej:ancoec:v:75:4:y:2009:p:1123-1140

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    Cited by:

    1. Haiwen Zhou, 2011. "Factor Returns and Circular Causality," Southern Economic Journal, Southern Economic Association, vol. 77(3), pages 795-805, January.
    2. Cunningham, Chris & Patton, Michaela C. & Reed, Robert R., 2016. "Heterogeneous returns to knowledge exchange: Evidence from the urban wage premium," Journal of Economic Behavior & Organization, Elsevier, vol. 126(PA), pages 120-139.
    3. Gheorghe Săvoiu & Vasile Dinu & Laurenţiu Tăchiciu, 2012. "Romania Foreign Trade in Global Recession, Revealed by the Extended Method of Exchange Rate Indicators," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(31), pages 173-194, February.
    4. Kuwahara, Shiro, 2013. "Does international knowledge spillover always lead to a positive trickle down?," Journal of the Japanese and International Economies, Elsevier, vol. 27(C), pages 48-63.

    More about this item

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity


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