This paper examines the Granger causality between total expenditures, own source revenues, grants received from the State and long-term loans for 12 subgroups of Finnish municipalities. Two panel data sets that cover the years 1985-1992 and 1993-1999 are used in order to compare the effect of...

Similarities of the applied technology and human resources make learning between industries easier and spillover effects stronger. For this reason, economic growth of countries and regions is largely dependent on the relatedness structure between their industries, which affects the appearance...