This paper offers a concise critical overview of Okuns Law, with particular attention for its relevance in open economic systems of regions. Based on an extensive set of economic data for Finnish regions, the existence of cointegration is tested by using alternative statistical methods, viz. the...

Regional economics - an established discipline for several decades - has gone through a rapid pace of change in the past decade and several new perspectives have emerged. At the same time the methodology has shown surprising development. This volume brings together contributions looking at new...