The literature in economic geography has recently shown a growing interest in the path dependent transformation of regional economies. According to evolutionary accounts, the development of regional economies can be regarded as a result of technological branching processes, where the development...

Diversification possibilities enable investors to manage portfolio risk and decrease exposure to it, in order to prevent their portfolios from losing value. Well-diversified portfolio is the one that contains different asset classes with low return’s correlations. Essentially, portfolio...