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Regional Convergence in Europe: Evidence from the Perspective of Capital Accumulation in Services

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  • Elías Melchor-Ferrer
  • Antonio Mihi-Ramirez
  • Eugene Agoh

Abstract

The integration process within Europe has resulted in a reduction of regional disparities. Itis, however, unfortunate that little or no attention has been given to how this regionalconvergence has occurred, particularly in the growing services sector. Therefore, this paperanalyses the impact of capital accumulation in the services sector in European regionalconvergence. We use a spatial correlation to analyze the services sector in 121 Europeanregions at the NUTS-2 level in nine European Union (EU) countries. The results show thepolarisation of economic activity in the central area of Europe, which creates synergies thatslow down the process of regional convergence. It also reveals the significant role of the nonmarketservices sector in this process, which highlights the importance of maintaining highrates of investment for continued convergence.

Suggested Citation

  • Elías Melchor-Ferrer & Antonio Mihi-Ramirez & Eugene Agoh, 2017. "Regional Convergence in Europe: Evidence from the Perspective of Capital Accumulation in Services," Research in Economics and Business: Central and Eastern Europe, Tallinn School of Economics and Business Administration, Tallinn University of Technology, vol. 9(2).
    • Handle: RePEc:ttu:rebcee:115
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