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
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