The aim of this study is to empirically investigate the development of Industrial Localization and Countries' Specialization Patterns in the European Union, to explain the driving forces behind and to find out dynamic tendencies. We extend existing research work by using a broader data set,...

This paper examines whether economic integration favors countries' convergence into a common cone of diversification. We analyze the manufacturing specialization patterns for a sample of 19 current and potential European Union countries over the period 1963-1998, and assess the impact of...

This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...