Arbeitspapier

The Determinants of Economic Growth in European Regions

We use Bayesian Model Averaging (BMA) to evaluate the robustness of determinants of economic growth in a new dataset of 255 European regions in the period 1995-2005. We use three different specifications based on (i) the cross-section of regions, (ii) the cross-section of regions with country fixed effects, and (iii) the cross-section of regions with a spatial autoregressive (SAR) structure. Our results indicate that the income convergence process between countries is dominated by the catching-up process of regions in Central and Eastern Europe (CEE), whereas convergence within countries is mostly a characteristic of regions in old EU member states. We find robust evidence of asymmetric growth performance within countries, with a growth bonus in regions containing capital cities which is particularly sizeable in CEE countries, as well as a robust positive effect of education. The results are robust if we allow for spatial spillovers a priori. In this setting, we also find robust evidence of positive spillovers leading to growth clusters.

Sprache
Englisch

Erschienen in
Series: wiiw Working Paper ; No. 57

Klassifikation
Wirtschaft
Bayesian Analysis: General
Statistical Simulation Methods: General
Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Economywide Country Studies: Europe
Thema
model uncertainty
Bayesian Model Averaging (BMA)
spatial autoregressive model
determinants of economic growth
urban agglomerations
European regions

Ereignis
Geistige Schöpfung
(wer)
Crespo-Cuaresma, Jesus
Doppelhofer, Gernot
Feldkircher, Martin
Ereignis
Veröffentlichung
(wer)
The Vienna Institute for International Economic Studies (wiiw)
(wo)
Vienna
(wann)
2009

Handle
Letzte Aktualisierung
10.03.2025, 11:46 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Crespo-Cuaresma, Jesus
  • Doppelhofer, Gernot
  • Feldkircher, Martin
  • The Vienna Institute for International Economic Studies (wiiw)

Entstanden

  • 2009

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