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Relative specialisation of EU regions: an econometric analysis of sectoral gross fixed capital formation

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  • Stirböck, Claudia

Abstract

This paper analyses the level of relative specialisation in terms of gross fixed capital formation in EU regions for the period between 1985 and 1994. Controlling for heteroscedasticity and potential endogeneity problems, we get consistent econometric results. Larger market and regional sizes diminish relative investment specialisation while a higher unemployment rate, population density, the fact of being a central region, the distance to the economic centre, and economic liberalisation increase its level. The variation of the specialisation level of one region over time, however, cannot be explained econometrically, it thus might underlie random disturbances.

Suggested Citation

  • Stirböck, Claudia, 2002. "Relative specialisation of EU regions: an econometric analysis of sectoral gross fixed capital formation," ZEW Discussion Papers 02-36, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:862
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    References listed on IDEAS

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    1. Amiti, Mary, 2005. "Location of vertically linked industries: agglomeration versus comparative advantage," European Economic Review, Elsevier, vol. 49(4), pages 809-832, May.
    2. 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).
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    5. Krugman, Paul, 1998. "What's New about the New Economic Geography?," Oxford Review of Economic Policy, Oxford University Press, vol. 14(2), pages 7-17, Summer.
    6. Stirböck, Claudia, 2001. "Agglomeration tendencies in EU regions: where does capital go?," ZEW Discussion Papers 01-28, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    7. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
    8. 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.
    9. Danthine, Jean-Pierre & Giavazzi, Francesco & von Thadden, Ernst-Ludwig, 2000. "European Financial Markets After EMU: A First Assessment," CEPR Discussion Papers 2413, C.E.P.R. Discussion Papers.
    10. Tirado, D.A. & Paluzie, E. & Pons, J., 2000. "Economic Integration and Industrial Location: The Case of Spain Before WWI," Papers 2000/2, European Institute - History.
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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. Claudia Stirboeck, 2003. "Comparing Sectoral Investment and Employment Specialisation of EU Regions: A Spatial Econometric Analysis," ERSA conference papers ersa03p259, European Regional Science Association.
    3. Stirböck, Claudia, 2004. "A Spatial Econometric Analysis of Regional Specialisation Patterns Across EU Regions," ZEW Discussion Papers 04-44, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    4. Igor Rotaru, 2016. "Clusters and regional development: the dynamics of agglomeration processes and its contribution to the development of North East region of Romania," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 9(2), pages 99-102, June.
    5. Stirböck, Claudia, 2002. "What Determines Relative Sectoral Investment Patterns in EU Regions?," ZEW Discussion Papers 02-55, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    6. Stirböck, Claudia, 2002. "Explaining the Level of Relative Investment Specialisation: A Spatial Econometric Analysis of EU Regions," ZEW Discussion Papers 02-49, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    7. Stirböck, Claudia, 2004. "Comparing Investment and Employment Specialisation Patterns of EU Regions," ZEW Discussion Papers 04-43, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

    More about this item

    Keywords

    Economic Geography; Regional Economics; Capital Allocation; Panel Data Analysis;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F2 - International Economics - - International Factor Movements and International Business
    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • 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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