Relative Specialisation of EU Regions: An Econometric Analysis of Sectoral Gross Fixed Capital Formation

Stirböck, Claudia

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URL:	http://ub-madoc.bib.uni-mannheim.de/409
URN:	urn:nbn:de:bsz:180-madoc-4095
Document Type:	Working paper
Year of publication:	2002
The title of a journal, publication series:	None
Publication language:	English
Institution:	Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series:	Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject:	330 Economics
Classification:	JEL: C30 F15 F2 R12 ,
Subject headings (SWD):	Europäische Union , Regionale Wirtschaftsentwicklung , Arbeitslosenstatistik , Kapitalmarktforschung
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.
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BASE: Stirböck, Claudia

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