Empirical work on regional growth under spatial spillovers uses two workhorse models: the spatial Solow model and Verdoorn's model. This paper contrasts these two views on regional growth processes and demonstrates that in a spatial setting the speed of convergence is heterogenous in both...

This paper formulates an econometric firm growth model that explicitly accounts for the interdependence of firm performance within corporate networks and is in line with several economic theories on firm growth. We estimate the model for national and multinational corporate groups (MNEs) using a...

There are two main options for companies to serve foreign markets: exports and foreign direct investment (FDI). Based on the Helpman, Melitz and Yeaple (2004) model for two host countries this paper derives a clear theoretical prediction for the decision between both strategies. A bivariate...

This paper analyzes the relationship between capital structure, corporate taxation and firm age. We adapt a standard model of optimal capital structure choice under corporate taxation, focusing on the financing and investment decisions a young firm is typically faced with. Our model allows to...

This paper suggests that one should account for the endogeneity of important explanatory variables and the persistence of technology shocks when analyzing spatial convergence among regions.Specifically, it is argued that a systems approach is called for that includes the average growth rate and...

We find very fast convergence in productivity for the 99 3-digit European industries over the 1985-1998 period. According to our estimates half of any productivity gap is closed on average in 10 years. The speed of convergence is much higher than obtained previously in the literature....

This paper analyses the relationship between corporate taxation, firm age and debt. We adapt a standard model of capital structure choice under corporate taxation, focusing on the financing and investment decisions a firm is typically faced with. Our model suggests that the debt ratio is...

Nach den aktuellen Prognosen, die auf der 61. Euroconstruct-Konferenz in Amsterdam im Juni vorgetragen wurden, hat sich die Stimmung im Bausektor deutlich aufgehellt. War man vor einem halben Jahr noch von einer Zunahme der Bauinvestitionen im Jahr 2006 um 1,5% ausgegangen, so wurden in den...

Nach den aktuellen Prognosen der Experten für die in der Euroconstruct-Gruppe zusammengeschlossenen 19 europäischen Länder wird im Nichtwohnbau bis 2009 ein durchschnittliches Wachstum von rund 2% pro Jahr erwartet. Dabei wird, neben Belgien und Irland, in allen vier mittelosteuropäischen...

Die europäische Bauwirtschaft erlebte 2006 mit einem Anstieg um 3,7% das beste Jahr seit fast einem Vierteljahrhundert. Für 2007 erwarten die Experten für die in der Euroconstruct-Gruppe zusammengeschlossenen europäischen Länder eine weitere Zunahme um ca. 21/2%. In den beiden darauf...