In this paper, I identify some stylized facts characterizing regional evolution in Europe during the eighties. In particular, I provide evidence of the existence of convergence clubs based on regional specialization. Afterward, I give an explanation of this empirical evidence based on the...

This paper offers an explanation for the coexistence of convergence across countries and the lack thereof at the regional level in the European Union. The model shows that, even if it accelerates growth and brings convergence across countries, the intensification of international knowledge...

We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...