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Cognitive Capital and Islands of Innovation: The Lucas Growth Model from a Regional Perspective

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  • Andrea Caragliu
  • Peter Nijkamp

Abstract

Caragliu A. and Nijkamp P. Cognitive capital and islands of innovation: the Lucas growth model from a regional perspective, Regional Studies. Knowledge triggers regional growth. Evidence suggests that skilled labour force concentrates in islands of innovation, providing an advantage for innovative regions and a challenge for lagging ones. A growth model explaining the effect of human capital on regional wealth is presented. Estimates are based on the European Values Study (EVS) and Eurostat regional data. The externality driving growth in the model is cognitive capital. Empirical tests show that a higher endowment of cognitive capital generates increasing returns to knowledge, favouring the emergence of islands of innovation; also, regions with a high endowment of cognitive capital attract knowledge spillovers from neighbours.

Suggested Citation

  • Andrea Caragliu & Peter Nijkamp, 2020. "Cognitive Capital and Islands of Innovation: The Lucas Growth Model from a Regional Perspective," Regional Studies, Taylor & Francis Journals, vol. 48(4), pages 624-645, July.
    • Handle: RePEc:taf:regstd:v:48:y:2020:i:4:p:624-645
    DOI: 10.1080/00343404.2012.672726
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    2. Annie Tubadji & Peter Nijkamp, 2015. "Cultural Gravity Effects among Migrants: A Comparative Analysis of the EU15," Economic Geography, Taylor & Francis Journals, vol. 91(3), pages 343-380, July.
    3. Jona Gyorgy, 2015. "Determinants of Hungarian Sub-Regions’ Territorial Capital," European Spatial Research and Policy, Sciendo, vol. 22(1), pages 101-119, June.
    4. Andrea Caragliu & Peter Nijkamp, 2013. "From Islands to Hubs of Innovation: Connecting Innovative Regions," Tinbergen Institute Discussion Papers 13-141/VIII, Tinbergen Institute.
    5. Laura Resmini & Laura Casi, 2014. "FDI and Growth: Can different regional identities shape the returns to foreign capital investments?," ERSA conference papers ersa14p540, European Regional Science Association.
    6. Andrea Caragliu & Peter Nijkamp, 2013. "Space and Knowledge Spillovers in European Regions," Tinbergen Institute Discussion Papers 13-148/VIII, Tinbergen Institute.

    More about this item

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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