Worldwide economic crisis that effects all major economies is rare. In the past, severe economic crises were usually contained within a country or a region. With the beginning of the financial and economic crisis in the United States and the rapid financial contagion of developed and developing...

This paper analyzes, within a regional growth model, the impact of productive governmental policy and integration on the spatial distribution of economic activity. Integration is understood as enhancing territorial cooperation between the regions, and it describes the extent to which one region...

We analyze within a dynamic model how firms decide on capital investment if the accompanying adjustment costs are a function of governmental activity. The government provides a public input and decides on the degree of rivalry. The productive public input enhances private capital productivity...