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We test whether output growth in European economic agglomeration regions depends on financial development. To this end we suggest a relative measure of the quality of financial institutions rather than the usual quantity proxy of financial development. In order to measure the quality of...
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Globalization has altered the appeal of each region to host economic activities. As firms are pushed to be more competitive, they develop outsourcing and relocation strategies, displacing some production activities to new emplacements. These changes have important impacts in some regions and are...
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In this study, we test whether regional growth in 11 European countries depends on financial development and suggest the use of cost- and profit-efficiency estimates as quality measures for financial institutions. Contrary to the usual quantitative proxies for financial development, the quality...
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productivity growth in Europe, using the most recent Cambridge Econometrics regional database, EU KLEMS growth and productivity … accounts and EuroStat R&D data. We apply a reduced-form empirical specification for semi-endogenous productivity growth that … allows for differences in steady state income levels and long-run growth rates. Productivity growth in a region depends on …
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