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Agglomeration tendencies in EU regions: where does capital go?

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  • Stirböck, Claudia

Abstract

This paper focuses on two aspects being neglected in the analysis of agglomeration tendencies so far. First, it regards regional agglomeration patterns and secondly, the allocation of capital across industrial sectors. Indeed, the average relative concentration of capital turns out to be of a higher level and variability than the one of employment in 1985-94. Regions marked by a relatively high uneven allocation of capital are also subject to lower economic performance than regions marked by a relatively low capital concentration. Though direct investments in services represent a large share of direct investments in the 1990s, relative specialisation in services is rather low, but steadily increasing from 1985-94 in EU countries and regions.

Suggested Citation

  • Stirböck, Claudia, 2001. "Agglomeration tendencies in EU regions: where does capital go?," ZEW Discussion Papers 01-28, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:5383
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    References listed on IDEAS

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    1. Krieger-Boden, Christiane, 1999. "Nationale und regionale Spezialisierungsmuster im europäischen Integrationsprozeß," Open Access Publications from Kiel Institute for the World Economy 2294, Kiel Institute for the World Economy (IfW Kiel).
    2. Sebnem Kalemli-Ozcan & Bent E. Sørensen & Oved Yosha, 2003. "Risk Sharing and Industrial Specialization: Regional and International Evidence," American Economic Review, American Economic Association, vol. 93(3), pages 903-918, June.
    3. Mary Amiti, 1999. "Specialization patterns in Europe," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 135(4), pages 573-593, December.
    4. Paul Brenton & Francesca Di Mauro & Matthias Lücke, 2014. "Economic Integration and FDI: An Empirical Analysis off Foreign Investment in the EU and in Central and Eastern Europe," World Scientific Book Chapters, in: INTERNATIONAL TRADE, DISTRIBUTION AND DEVELOPMENT Empirical Studies of Trade Policies, chapter 7, pages 125-151, World Scientific Publishing Co. Pte. Ltd..
    5. Krugman, Paul, 1998. "What's New about the New Economic Geography?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 14(2), pages 7-17, Summer.
    6. Sebnem Kalemli-Ozcan & Bent E. Sørensen & Oved Yosha, 1999. "Risk Sharing and Industrial Specialization: Regional and International Evidence," Working Papers 99-16, Brown University, Department of Economics.
    7. André Sapir, 1996. "The effects of Europe's international market program on production and trade: a first assessment," ULB Institutional Repository 2013/8162, ULB -- Universite Libre de Bruxelles.
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    Citations

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    Cited by:

    1. Aikaterini Kokkinou & Yannis Psycharis, 2005. "Foreign Direct Investment and Regional Attractiveness in Southeastern European countries," ERSA conference papers ersa05p382, European Regional Science Association.
    2. repec:rre:publsh:v:36:y:2006:i:3:p:324-61 is not listed on IDEAS
    3. Peri, Giovanni & Urban, Dieter, 2006. "Catching-up to foreign technology? Evidence on the "Veblen-Gerschenkron" effect of foreign investments," Regional Science and Urban Economics, Elsevier, vol. 36(1), pages 72-98, January.
    4. Claudia Stirboeck, 2003. "Comparing Sectoral Investment and Employment Specialisation of EU Regions: A Spatial Econometric Analysis," ERSA conference papers ersa03p259, European Regional Science Association.
    5. Stirböck, Claudia, 2004. "A Spatial Econometric Analysis of Regional Specialisation Patterns Across EU Regions," ZEW Discussion Papers 04-44, ZEW - Leibniz Centre for European Economic Research.
    6. Stirböck, Claudia, 2002. "Relative specialisation of EU regions: an econometric analysis of sectoral gross fixed capital formation," ZEW Discussion Papers 02-36, ZEW - Leibniz Centre for European Economic Research.
    7. Henrik Braconier & Pehr-Johan Norback & Dieter Urban, 2002. "Vertical FDI Reviseted," Development Working Papers 167, Centro Studi Luca d'Agliano, University of Milano.
    8. Stirböck, Claudia, 2002. "What Determines Relative Sectoral Investment Patterns in EU Regions?," ZEW Discussion Papers 02-55, ZEW - Leibniz Centre for European Economic Research.
    9. Stirböck, Claudia, 2002. "Explaining the Level of Relative Investment Specialisation: A Spatial Econometric Analysis of EU Regions," ZEW Discussion Papers 02-49, ZEW - Leibniz Centre for European Economic Research.

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    More about this item

    Keywords

    Regional Economics; Direct Investment; Capital Allocation; Factor Mobility;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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