IDEAS home Printed from https://ideas.repec.org/a/bla/growch/v37y2006i1p60-81.html
   My bibliography  Save this article

Covariance Risk and Employment Growth in Canadian Cities

Author

Listed:
  • ROBERT B. PENFOLD

Abstract

ABSTRACT The Capital Asset Pricing Model is used to examine the relationship between covariance risk in employment and growth in employment for Canadian census metropolitan areas. A new version of location quotient (LQ) is presented that is based on covariance risk. This risk quotient is shown to be a better predictor of employment growth than the simple LQ. The portfolio theoretic model and covariance risk are shown to be useful in predicting growth in addition to studying the regional stability of employment.

Suggested Citation

  • Robert B. Penfold, 2006. "Covariance Risk and Employment Growth in Canadian Cities," Growth and Change, Wiley Blackwell, vol. 37(1), pages 60-81, March.
    • Handle: RePEc:bla:growch:v:37:y:2006:i:1:p:60-81
    DOI: 10.1111/j.1468-2257.2006.00305.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1468-2257.2006.00305.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1468-2257.2006.00305.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Beckstead, Desmond Brown, W. Mark, 2003. "From Labrador City to Toronto: The Industrial Diversity of Canadian Cities, 1992 to 2002," Insights on the Canadian Economy 2003003e, Statistics Canada, Economic Analysis Division.
    2. John Baldwin & W. Brown, 2004. "Regional manufacturing employment volatility in Canada: The effects of specialisation and trade," Papers in Regional Science, Springer;Regional Science Association International, vol. 83(3), pages 519-541, July.
    3. John Baldwin & W. Brown, 2004. "Regional manufacturing employment volatility in Canada: The effects of specialisation and trade," Economics of Governance, Springer, vol. 83(3), pages 519-541, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chad R. Wilkerson & Megan D. Williams, 2007. "The Tenth District's defining industries: how are they changing?," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q III), pages 59-81.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Koen Frenken & Frank G. van Oort & Thijs Verburg & Ron A. Boschma, 2004. "Variety and regional economic growth in the Netherlands," Papers in Evolutionary Economic Geography (PEEG) 0502, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Dec 2004.
    2. Baldwin, John R. Beckstead, Desmond Gellatly, Guy, 2005. "Canada's Investments in Science and Innovation: Is the Existing Concept of Research and Development Sufficient?," Economic Analysis (EA) Research Paper Series 2005032e, Statistics Canada, Analytical Studies Branch.
    3. Jürgen Essletzbichler, 2005. "Diversity, stability and regional growth in the U.S. (1975-2002)," Papers in Evolutionary Economic Geography (PEEG) 0513, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Sep 2005.
    4. George Petrakos & Georgios Fotopoulos & Dimitris Kallioras, 2012. "Peripherality and Integration: Industrial Growth and Decline in the Greek Regions," Environment and Planning C, , vol. 30(2), pages 347-361, April.
    5. Page, Marjorie L., 2002. "Rural Diversification 1981 - 1996," Agriculture and Rural Working Paper Series 28046, Statistics Canada.
    6. Zhengyun Jiang & Yun Feng & Jinping Song & Chengzhen Song & Xiaodi Zhao & Chi Zhang, 2023. "Study on the Spatial–Temporal Pattern Evolution and Carbon Emission Reduction Effect of Industry–City Integration in the Yellow River Basin," Sustainability, MDPI, vol. 15(6), pages 1-23, March.
    7. Elia, Stefano & Maggi, Elena & Mariotti, Ilaria, 2011. "Does the transport industry gain from manufacturing internationalization? An empirical investigation on the Italian regions," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 49, pages 53-74.
    8. Francisco J. Pallares & Richard V. Adkisson, 2017. "The Impact of Industrial Diversification on Employment Growth in the 50 U.S. States: 2000-2013," Economic Development Quarterly, , vol. 31(4), pages 275-284, November.
    9. Paul Bishop & Peter Gripaios, 2007. "Explaining Spatial Patterns of Industrial Diversity: An Analysis of Sub-regions in Great Britain," Urban Studies, Urban Studies Journal Limited, vol. 44(9), pages 1739-1757, August.
    10. Beaudry, Catherine & Schiffauerova, Andrea, 2009. "Who's right, Marshall or Jacobs? The localization versus urbanization debate," Research Policy, Elsevier, vol. 38(2), pages 318-337, March.
    11. Richard V. Adkisson & Eduardo Saucedo, 2010. "Merchandise Exports and Job Quality, Evidence From the States," Economic Development Quarterly, , vol. 24(3), pages 231-242, August.
    12. Jan Kluge, 2018. "Sectoral diversification as insurance against economic instability," Journal of Regional Science, Wiley Blackwell, vol. 58(1), pages 204-223, January.
    13. Bordt, Michael Das, Sudip Heisz, Andrew Larochelle-Côté, Sébastien, 2005. "Labour Markets, Business Activity and Population Growth and Mobility in Canadian CMAs," Trends and Conditions in Census Metropolitan Areas 2005006e, Statistics Canada, Social Analysis Division.
    14. Roberto Ezcurra, 2011. "Unemployment Volatility and Regional Specialization in the European Union," Regional Studies, Taylor & Francis Journals, vol. 45(8), pages 1121-1137.
    15. Richard Shearmur & Philippe Apparicio & Pauline Lizion & Mario Polèse, 2007. "Space, Time, and Local Employment Growth: An Application of Spatial Regression Analysis," Growth and Change, Wiley Blackwell, vol. 38(4), pages 696-722, December.
    16. Gregory M. Spencer, 2015. "Knowledge Neighbourhoods: Urban Form and Evolutionary Economic Geography," Regional Studies, Taylor & Francis Journals, vol. 49(5), pages 883-898, May.
    17. Takano, Keisuke, 2019. "Does visible shock update firms' unrelated trade diversity in anticipation of future shock? Evidence from the Great East Japan Earthquake and expected Nankai Trough Earthquake," TDB-CAREE Discussion Paper Series E-2019-01, Teikoku Databank Center for Advanced Empirical Research on Enterprise and Economy, Graduate School of Economics, Hitotsubashi University.
    18. Wu, Xiaoxia & Huang, Yan & Gao, Jian, 2022. "Impact of industrial agglomeration on new-type urbanization: Evidence from Pearl River Delta urban agglomeration of China," International Review of Economics & Finance, Elsevier, vol. 77(C), pages 312-325.
    19. Jan Ženka & Marcela Chreneková & Lucie Kokešová & Veronika Svetlíková, 2021. "Industrial Structure and Economic Resilience of Non-Metropolitan Regions: An Empirical Base for the Smart Specialization Policies," Land, MDPI, vol. 10(12), pages 1-21, December.
    20. Hasan Engin Duran, 2015. "Regional Employment Volatility In Turkey: Causes And Consequences," Working Papers 2015/06, Turkish Economic Association.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:growch:v:37:y:2006:i:1:p:60-81. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0017-4815 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.