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Does Globalization affect Regional Growth? Evidence for NUTS-2 Regions in EU-27

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  • Richard Sellner
  • Wolfgang Polasek

Abstract

We analyze the influence of newly constructed globalization measures on regional growth for the EU-27 countries between 2001 and 2006. The spatial Chow-Lin procedure, a method constructed by the authors, was used to construct on a NUTS-2 level a complete regional data for exports, imports and FDI inward stocks, which serve as indicators for the influence of globalization, integration and technology transfers on European regions. The results suggest that most regions have significantly benefited from globalization measured by increasing trade openness and FDI. In a non-linear growth convergence model the growth elasticities for globalization and technology transfers decrease with increasing GDP per capita. Furthermore, the estimated elasticity for FDI decreases when the model includes a higher human capital premium for CEE countries and a small significant growth enhancing eff ect accrues from the structural funds expenditures in the EU.

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  • Richard Sellner & Wolfgang Polasek, 2011. "Does Globalization affect Regional Growth? Evidence for NUTS-2 Regions in EU-27," ERSA conference papers ersa11p819, European Regional Science Association.
    • Handle: RePEc:wiw:wiwrsa:ersa11p819
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    5. Wolfgang Polasek, 2011. "The Hodrick-Prescott (HP) Filter as a Bayesian Regression Model," Working Paper series 46_11, Rimini Centre for Economic Analysis, revised Jan 2012.
    6. Xiaodong Xu & Hafiz Syed Mohsin Abbas & Chunxia Sun & Samreen Gillani & Atta Ullah & Muhammad Ahsan Ali Raza, 2021. "Impact of globalization and governance determinants on economic growth: An empirical analysis of Asian economies," Growth and Change, Wiley Blackwell, vol. 52(2), pages 1137-1154, June.
    7. Oluwaseyi Musibau, Hammed & Olawale Shittu, Waliu & Yanotti, Maria, 2022. "Natural resources endowment: What more does West Africa need in order to grow?," Resources Policy, Elsevier, vol. 77(C).
    8. Adolfo Maza & José Villaverde, 2015. "A New FDI Potential Index: Design and Application to the EU Regions," European Planning Studies, Taylor & Francis Journals, vol. 23(12), pages 2535-2565, December.
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    13. Živković Jelena, 2021. "Competitiveness of the Southeast European Countries in the Conditions of the Globalization," Economic Themes, Sciendo, vol. 59(4), pages 479-496, December.
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    15. Villaverde, José & Maza, Adolfo, 2015. "The determinants of inward foreign direct investment: Evidence from the European regions," International Business Review, Elsevier, vol. 24(2), pages 209-223.
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    17. Marija & Milan Kostiæ, 2020. "Globalization and economic growth of Eurozone economies," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 183-214.
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    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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