This paper tests two major competing theories explaining the spatial concentration of economic activity, namely new economic geography theory (NEG) which emphasizes varying market potential, and urban economics theory (UE) in which the main emphasis is on producer service linkages. Using wage...

With a self-constructed, unique historical data set for 240 counties that spans over centuries, this paper uses the ‘quasi-natural experiment' of capital relocation in 1421, during China's Ming Dynasty, as an exogenous shock to study the relationship between political governance and urban...

As cities grow in size and density, why do some “ignite” into global engines of innovation while others evolve instead into slums? To address this question we develop a view of urban development as an analogy to stellar evolution. Typical stellar gas clouds grow in mass, eventually reaching...

This paper contributes to the literature that uses the Economic Freedom of North America (EFNA) index to evaluate relationships with various outcomes. Most of the literature estimates a linear relationship between economic freedom and those outcomes. However, using matching methods can be a...

The paper examines the relation between industrial mix and regional productivity growth. For this purpose, a dynamic model of the open economy with differentiated sectoral knowledge formation and incomplete interregional knowledge diffusion is constructed. The theoretical framework is first used...

Based on Chinese city-level data from 1999 to 2012 and controlling for geological, environmental, and social diversity, this study suggests that credit plays a significant role in driving up house prices after the Great Recession, whereas property prices only influence bank lending before 2008....

Globalization has had an enormous impact on traditional industrial structures. It seems almost the case that everything is everywhere the same. And yet, in reality, some regions in a single industrialized country enjoy rapid economic growth while others are downsizing or stagnating. Thus there...