Catalogue Search | MBRL
Are you sure you want to remove the book from the shelf?
{{itemTitle}}
689
result(s) for
"Economic specialization Europe."
Sort by:
Historical Antisemitism, Ethnic Specialization, and Financial Development
Historically, European Jews have specialized in financial services while being the victims of antisemitism. We find that the present-day demand for finance is lower in German counties where historical antisemitism was higher, compared to otherwise similar counties. Households in counties with high historical antisemitism have similar saving rates but invest less in stocks, hold lower saving deposits, and are less likely to get a mortgage to finance homeownership after controlling for wealth and a rich set of current and historical covariates. Present-day antisemitism and supply-side forces do not fully explain the results. Households in counties where historical antisemitism was higher distrust the financial sector more—a potential cultural externality of historical antisemitism that reduces wealth accumulation in the long run.
Journal Article
Agents of Structural Change: The Role of Firms and Entrepreneurs in Regional Diversification
Who introduces structural change in regional economies: Entrepreneurs or existing firms? And do local or nonlocal establishment founders create most novelty in a region? We develop a theoretical framework that focuses on the roles different agents play in regional transformation. We then apply this framework, using Swedish matched employer-employee data, to determine how novel the activities of new establishments are to a region. Incumbents mainly reinforce a region's current specialization: incumbent's growth, decline, and industry switching further align them with the rest of the local economy. The unrelated diversification required for structural change mostly originates via new establishments, especially via those with nonlocal roots. Interestingly, although entrepreneurs often introduce novel activities to a local economy, when they do so, their ventures have higher failure rates compared to new subsidiaries of existing firms. Consequently, new subsidiaries manage to create longer-lasting change in regions.
Journal Article
Transforming European regional policy: a results-driven agenda and smart specialization
The paper examines the nature, rationale, and logic of the reforms to EU Cohesion Policy. A particular focus of the paper is on the concept of smart specialization and the use of this concept to help facilitate a results-oriented policy agenda. On the one hand, the arguments underpinning the reforms in part relate to modern thinking regarding the role of industrial policy. On the other hand, they also partly relate to advances in our understanding of the relationships between economic geography, technology, and institutions. At the same time, the specific features of the EU context also heavily influence the nature and logic of the changes, whereby legal and institutional matters linking Cohesion Policy to other EU policies all play an important role.
Journal Article
Immigrants' Effect on Native Workers: New Analysis on Longitudinal Data
Using longitudinal data on the universe of workers in Denmark during the period 1991–2008, we track the labor market outcomes of low-skilled natives in response to an exogenous inflow of low-skilled immigrants. We innovate on previous identification strategies by considering immigrants distributed across municipalities by a refugee dispersal policy in place between 1986 and 1998. We find that an increase in the supply of refugee-country immigrants pushed less educated native workers (especially the young and low-tenured ones) to pursue less manual-intensive occupations. As a result immigration had positive effects on native unskilled wages, employment, and occupational mobility.
Journal Article
The patterns of venture capital investment in Europe
We study the investment patterns of different types of venture capital (VC) investors in Europe: independent VC, corporate VC, bank-affiliated VC and governmental VC. We rely on a unique dataset that covers 1663 first VC investments made by 846 investors in 737 young high-tech entrepreneurial ventures in seven European countries. We compare the relative specialization indices of the different VC investor types across several dimensions that characterize investee companies: industry, age, size, stage of development, distance from the investor and country. Our findings indicate that VC investor types in Europe differ substantially in their investment patterns when compared to one another and that, in terms of investment patterns, governmental VC investors appear to be the most distinct type of VC investor. The investment patterns of different VC investors are stable over time and similar across different European countries. Finally, the investment patterns of the different VC investor types in Europe are significantly different from those observed in the USA.
Journal Article
Industrial Diversification in Europe: The Differentiated Role of Relatedness
There is increasing interest in the drivers of industrial diversification, and how these depend on economic and industry structures. This article contributes to this line of inquiry by analyzing the role of industry relatedness in explaining variations in industry diversification, measured as the entry of new industry specializations, across 173 European regions during the period 2004-2012. First, we show that there are significant differences across regions in Europe in terms of industrial diversification. Second, we provide robust evidence showing that the probability that a new industry specialization develops in a region is positively associated with the new industry's relatedness to the region's current industries. Third, a novel finding is that the influence of relatedness on the probability of new industrial specializations depends on innovation capacity of a region. We find that relatedness is a more important driver of diversification in regions with a weaker innovation capacity. The effect of relatedness appears to decrease monotonically as the innovation capacity of a regional economy increases. This is consistent with the argument that high innovation capacity allows an economy to break from its past and to develop, for the economy, truly new industry specializations. We infer from this that innovation capacity is a critical factor for economic resilience and diversification capacity.
Journal Article
Regional Branching and Key Enabling Technologies: Evidence from European Patent Data
This article investigates the role of key enabling technologies (KETs) in regional branching. Taking into account the general purpose properties of these technologies, and referring to recombinant innovation theories, we argue that KETs knowledge could attenuate the effect that regional branching ascribes to technological relatedness, giving regions more scope for their technological diversification strategies. Furthermore, we claim that regions could benefit from this KETs effect, even if they are followers in their development, thanks to interregional spillovers from closer KETs leaders. Combining regional patent and economic data from a thirty-year panel (1980-2010) of twenty-six European countries, we actually find that KETs negatively moderate the role of technological relatedness for regional specialization in new technological fields, captured by a revealed technology advantage index. KETs knowledge also increases the number of new technological specializations. This positive effect more than compensates the previous negative moderation effect, so that the net impact of KETs on regional branching is positive. Supportive evidence is also found for KETs cross-regional spillovers. Overall, the results provide scientific support for the recent European Commission recommendation to plug KETs into the policy toolbox for smart specialization strategies inspired by regional branching.
Journal Article
The Quadruple/Quintuple Innovation Helixes and Smart Specialisation Strategies for Sustainable and Inclusive Growth in Europe and Beyond
Smart, sustainable and inclusive growth is the key goal of several EU initiatives, strategies and programmes in the short, medium and long term and at the regional, national and pan-European levels. In this paper, we attempt to explore, explain and enact the conceptual as well as practical linkages between theory, policy and practice related to the ingredients of such growth based on regional innovation smart specialisation strategies and viewed via the ‘multi-focal lens’ of the Quadruple and Quintuple Innovation Helixes (also Quadruple/Quintuple Helix) perspective.
Journal Article
‘Getting to Denmark’: the role of agricultural elites for development
We explore the role of elites for development and the spread of industrialized dairying in Denmark in the 1880s. We demonstrate that the location of early proto-modern dairies, introduced by landowning elites from northern Germany in the eighteenth century, explains the location of industrialized dairying in 1890: an increase of one standard deviation in elite influence increases industrialized dairying by 56 percent of the mean exposure in one specification. We interpret this as evidence for a spread of ideas from the elites to the peasantry, which we capture through measures of specialization in dairying and demand for education and identify a causal relationship using an instrument based on distance to the influential first mover. Finally, we demonstrate that areas with cooperatives enjoyed greater wealth by the twentieth century, and that they are today associated with other Danish cultural attributes: a belief in democracy and individualism.
Journal Article