Arbeitspapier
Sectoral Diversification as Insurance against Economic Instability
This paper examines the extent to which sectoral diversification can act as an insurancemechanism against fluctuations in regional gross value added growth rates. I apply portfoliotheory to the growth-instability properties of German districts. Furthermore, Idefine a comprehensive diversification measure and use Stochastic Frontier Analysis inorder to estimate whether diversification allows regions to achieve more efficientgrowth-instability combinations, i.e., greater stability at given levels of economicgrowth. The results confirm that diversification does generate such effects. Spatialinteractions do also play a role: The effects are less pronounced for regions whoseeconomic performance is mainly driven by the surrounding regions.
- Sprache
-
Englisch
- Erschienen in
-
Series: ifo Working Paper ; No. 206
- Klassifikation
-
Wirtschaft
Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Regional Development Planning and Policy
- Thema
-
Sectoral diversification
regional growth
economic instability
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kluge, Jan
- Ereignis
-
Veröffentlichung
- (wer)
-
ifo Institute - Leibniz Institute for Economic Research at the University of Munich
- (wo)
-
Munich
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Kluge, Jan
- ifo Institute - Leibniz Institute for Economic Research at the University of Munich
Entstanden
- 2015
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