Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely…
This paper conducts a spatial econometric analysis of the determinants of regional specialisation patterns. Spatial autocorrelation is present, but is mostly due to spatial error autocorrelation. Spatial…
This study analyses relative sectoral specialisation of EU regions on the basis of investment and employment patterns. Controlling for heteroscedasticity and potential endogeneity in the econometric analysis, we…
This paper adopts a spatial econometric perspective to analyse regional convergence of per capita income in Europe in 1995 to 2000 and, moreover, relaxes the assumption of a single steady-state growth path which…
Countries are often slow to adjust their economic structures to new necessities although this reform reluctance is costly in terms of growth and employment. This paper analyses the relevant factors that block or…