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Explaining the Level of Relative Investment Specialisation: A Spatial Econometric Analysis of EU Regions

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  • Stirböck, Claudia

Abstract

This paper analyses the level of relative specialisation in terms of gross fixed capital formation in EU regions. Larger market and regional sizes diminish; a higher unemployment rate, population density, the fact of being a central region, the distance to the economic centre, and economic liberalisation increase the level of specialisation. These results are not sensitive to differing formulations of the specialisation indicator. Accounting for spatial dependence by the use of spatial econometric tools, negative spatial interactions probably due to data inconsistencies are present. However, the results of classical econometric estimates are robust.

Suggested Citation

  • Stirböck, Claudia, 2002. "Explaining the Level of Relative Investment Specialisation: A Spatial Econometric Analysis of EU Regions," ZEW Discussion Papers 02-49, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:667
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    References listed on IDEAS

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    Cited by:

    1. Małkowska, Agnieszka & Telega, Agnieszka & Głuszak, Michał & Marona, Bartłomiej, 2021. "Spatial diversification of property tax policy – Searching for yardstick competition in Polish metropolitan areas," Land Use Policy, Elsevier, vol. 109(C).
    2. Stirböck, Claudia, 2004. "A Spatial Econometric Analysis of Regional Specialisation Patterns Across EU Regions," ZEW Discussion Papers 04-44, ZEW - Leibniz Centre for European Economic Research.
    3. Daniel Griffith, 2006. "Hidden negative spatial autocorrelation," Journal of Geographical Systems, Springer, vol. 8(4), pages 335-355, October.
    4. Stirböck, Claudia, 2004. "Comparing Investment and Employment Specialisation Patterns of EU Regions," ZEW Discussion Papers 04-43, ZEW - Leibniz Centre for European Economic Research.

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    More about this item

    Keywords

    Economic Geography; Regional Economics; Capital Allocation; Spatial Econometric Analysis;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • F15 - International Economics - - Trade - - - Economic Integration

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