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The Role of Territorial Capital in Local Economic Growth: Evidence from Italy

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  • Giovanni Perucca

Abstract

Territorial capital is defined as the system of territorial assets of economic, cultural, social and environmental nature that ensures the development potential of places. The potential of this concept resides in the recognition of possible interactions between factors of different nature. So far, however, very few studies have focused on the empirical verification of the links between territorial capital and economic growth. This work is devoted to the analysis of the relationship between economic growth and territorial capital in Italian NUTS3 regions between 1999 and 2008. The distribution of territorial assets across regions points out the huge gap between Italian macro-areas. These divergences do not clearly reproduce the differentials in GDP growth. The second part of the analysis is focused on the joint effect of the territorial capital components on the regional economic performance. Our findings emphasize the role of some endogenous factors in explaining the differentiation of regional growth patterns. Moreover, they point out the importance of soft assets in correspondence of an external shock, as the one represented by the recent financial crisis.

Suggested Citation

  • Giovanni Perucca, 2014. "The Role of Territorial Capital in Local Economic Growth: Evidence from Italy," European Planning Studies, Taylor & Francis Journals, vol. 22(3), pages 537-562, March.
    • Handle: RePEc:taf:eurpls:v:22:y:2012:i:3:p:537-562
    DOI: 10.1080/09654313.2013.771626
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    Cited by:

    1. Roberto Camagni & Roberta Capello, 2015. "Rationale and design of EU cohesion policies in a period of crisis," Regional Science Policy & Practice, Wiley Blackwell, vol. 7(1), pages 25-47, March.
    2. Adriana PETRE & Valentin COJANU, 2017. "The Relevance Of Territorial Capital For Regional Economic Resilience: A Review Of Conceptual Issues," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4, pages 9-25.
    3. Federico Fantechi & Ugo Fratesi, 2023. "Border Effects on firm's productivity: The role of peripherality and territorial capital," Papers in Regional Science, Wiley Blackwell, vol. 102(3), pages 483-506, June.
    4. Contò, Francesco & Adinolfi, Felice & Fiore, Mariantonietta & La Sala, Piermichele, 2013. "An incubator model based on the territorial value chain," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 7(2-3), pages 1-5.
    5. Ugo Fratesi & Giovanni Perucca, 2018. "Territorial capital and the resilience of European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 241-264, March.
    6. Pedro Sánchez-Zamora & Rosa Gallardo-Cobos, 2019. "Diversity, Disparity and Territorial Resilience in the Context of the Economic Crisis: An Analysis of Rural Areas in Southern Spain," Sustainability, MDPI, vol. 11(6), pages 1-21, March.
    7. Andrey S. Mikhaylov, 2018. "Socio-spatial dynamics, networks and modelling of regional milieu," Post-Print hal-01860131, HAL.
    8. G. Fabiola Safonte & Claudio Bellia & Pietro Columba, 2021. "Commoning of territorial heritage and tools of participated sustainability for the production and enhancement of agro-environmental public goods," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 9(1), pages 1-20, December.
    9. Mwehe Mathenge & Ben G. J. S. Sonneveld & Jacqueline E. W. Broerse, 2023. "Mapping the spatial dimension of food insecurity using GIS-based indicators: A case of Western Kenya," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 15(1), pages 243-260, February.
    10. Giorgio Calcagnini & Germana Giombini & Francesco Perugini, 2016. "Bank Foundations, Social Capital, and the Growth of Italian Provinces," Mo.Fi.R. Working Papers 131, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    11. Tatjana Boczy & Marta Margherita Cordini, 2020. "Narratives of Territorial Cohesion and Economic Growth: A Comparative Study," Social Inclusion, Cogitatio Press, vol. 8(4), pages 218-228.
    12. Andrey S. Mikhaylov, 2018. "Socio-spatial dynamics, networks and modelling of regional milieu," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(4), pages 1020-1030, June.
    13. Fabio Mazzola & Iolanda Cascio & Rosalia Epifanio & Giuseppe Giacomo, 2018. "Territorial capital and growth over the Great Recession: a local analysis for Italy," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 411-441, March.
    14. Roberto Camagni & Roberta Capello & Camilla Lenzi & Giovanni Perucca, 2023. "Urban crisis vs. urban success in the era of 4.0 technologies: Baumol's model revisited," Papers in Regional Science, Wiley Blackwell, vol. 102(3), pages 589-612, June.
    15. Mohamed Ali Labidi, 2023. "The Spatial Distribution of Economic Activities and the Structure of Local Economy: a Spatial Panel Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(4), pages 4079-4099, December.
    16. Jóna, György, 2015. "New trajectories of the Hungarian regional development: balanced and rush growth of territorial capital," MPRA Paper 73951, University Library of Munich, Germany.
    17. Miguel-Ángel García-Madurga & Ana-Julia Grilló-Méndez & Miguel-Ángel Esteban-Navarro, 2020. "Territorial Intelligence, a Collective Challenge for Sustainable Development: A Scoping Review," Social Sciences, MDPI, vol. 9(7), pages 1-20, July.
    18. Jona Gyorgy, 2015. "Determinants of Hungarian Sub-Regions’ Territorial Capital," European Spatial Research and Policy, Sciendo, vol. 22(1), pages 101-119, June.
    19. Petre Adriana, 2017. "How can regional assets capitalization add value to a modern economy? A theoretical approach," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 11(1), pages 834-842, July.
    20. Aura Bertoni & Paola Dubini & Alberto Monti, 2021. "Bringing Back in the Spatial Dimension in the Assessment of Cultural and Creative Industries and Its Relationship with a City’s Sustainability: The Case of Milan," Sustainability, MDPI, vol. 13(19), pages 1-18, September.

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