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New trajectories of the Hungarian regional development: balanced and rush growth of territorial capital

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  • Jóna, György

Abstract

The basic assumption of the paper is that numerous similarities exist between the patterns of economic growth and territorial capital growth. The rush economic growth and rush growth of territorial capital are compared empirically at Hungarian micro-regional level from 2004 until 2010. After normalizing the dataset, a very novel spatial econometric method is applied, called a penalty for bottleneck. The results show that the constant rush growth of territorial capital is as harmful as economic recession. On the other hand, the decrease of infrastructural and social capital caused the rush growth of territorial capital in this period. Moreover, the key findings of two case studies suggest that the balanced growth of territorial capital will be created by the falling social inequalities and increasing infrastructural capital.

Suggested Citation

  • Jóna, György, 2015. "New trajectories of the Hungarian regional development: balanced and rush growth of territorial capital," MPRA Paper 73951, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:73951
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    File URL: https://mpra.ub.uni-muenchen.de/73951/1/MPRA_paper_73951.pdf
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    References listed on IDEAS

    as
    1. Karima Kourtit & Peter Nijkamp & Robert Stimson (ed.), 2014. "Applied Regional Growth and Innovation Models," Advances in Spatial Science, Springer, edition 127, number 978-3-642-37819-5.
    2. Patricio Aroca & Robert Stimson & Roger Stough, 2014. "Using a Structural Equation Model to Analyze Potential Determinants of Spatial Variations in Endogenous Regional Growth Performance," Advances in Spatial Science, in: Karima Kourtit & Peter Nijkamp & Robert Stimson (ed.), Applied Regional Growth and Innovation Models, edition 127, chapter 0, pages 335-360, Springer.
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    5. Giovanni Perucca, 2014. "The Role of Territorial Capital in Local Economic Growth: Evidence from Italy," European Planning Studies, Taylor & Francis Journals, vol. 22(3), pages 537-562, March.
    6. Börje Johansson & Charlie Karlsson & Roger R. Stough (ed.), 2001. "Theories of Endogenous Regional Growth," Advances in Spatial Science, Springer, number 978-3-642-59570-7.
    7. Roberta Capello, 2007. "A forecasting territorial model of regional growth: the MASST model," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 41(4), pages 753-787, December.
    8. Robert Stimson & Roger R. Stough & Maria Salazar, 2009. "Leadership and Institutions in Regional Endogenous Development," Books, Edward Elgar Publishing, number 13246.
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    More about this item

    Keywords

    territorial capital; rush growth; balanced development; endogenous assets;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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