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Economies of Scale and Cumulative Causation

In: Industrial Location and Vitalization of Regional Economy

Author

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  • Stilianos Alexiadis

    (Ministry of Rural Development & Foods)

Abstract

This paper examines ‘Verddorn’s Law’, i.e. the relation between employment and output growth across the NUTS-3 regions of the European Union. Moreover, an explanation is provided as to how ‘Verdoorn’s Law’ sets up a process of cumulative causation. Following the relevant literature, the empirical assessment is conducted using spatial econometric techniques. The empirical results provide considerable support to the validity of ‘Verdoorn’s Law’. A more detailed analysis suggests that differences in regional growth rates perpetuate a ‘dualistic’ situation Europe, with advanced regions growing at the expanse of less-developed regions.

Suggested Citation

  • Stilianos Alexiadis, 2023. "Economies of Scale and Cumulative Causation," Springer Books, in: Toshiharu Ishikawa & Daisuke Nakamura (ed.), Industrial Location and Vitalization of Regional Economy, chapter 0, pages 41-58, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-8128-9_3
    DOI: 10.1007/978-981-19-8128-9_3
    as

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