In this paper, the authors study the changes in liquidity following the introduction of a new electronic limit order market when, prior to its introduction, trading is centralized in a single limit order market. They also study how automation of routing decisions and trading fees affect the...

We scrutinise in this paper the systemic consequences of state intervention triggered by external shocks for the dynamics of investment in the transforming Chinese economy. Our analysis focuses on the period before and after the global crisis. We interpret investment dynamics in a comparative...

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...

We scrutinise in this paper the systemic consequences of state intervention triggered by external shocks for the dynamics of investment in the transforming Chinese economy. Our analysis focuses on the period before and after the global crisis. We interpret investment dynamics in a comparative...

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...

Using entropy indices and associated bootstrap tests, we describe the distribution of economic sectors across Western European regions over the 1975-2000 period. We decompose geographic concentration into its within-country and between-country components. In addition, we estimate centre...

This paper presents the idea that retail trade stories might cluster with their competitors to pool marketing expenses and thereby increase their individual visibility among consumers. In a model which presumes such a marketing technology we derive some new comparative statics results. In a...

The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued in this period. Income levels have diverged inside...