Economic theory emphasizes that risk sharing makes it possible to exploit benefits from comparative advantages and economies of scale. An estimated regional-specific index of risk sharing is used as a covariate in a model of industrial specialization. Allowing for nonlinearities and spatial dependence, we show that industrial specialization is positively affected by risk-sharing measures even controlling for other relevant regressors.
Specialization and Risk Sharing in European Regions / Basile, Roberto Giovanni; Girardi, A.. - In: JOURNAL OF ECONOMIC GEOGRAPHY. - ISSN 1468-2702. - 10:(2010), pp. 645-659. [10.1093/jeg/lbp047]
Specialization and Risk Sharing in European Regions
BASILE, Roberto Giovanni;
2010
Abstract
Economic theory emphasizes that risk sharing makes it possible to exploit benefits from comparative advantages and economies of scale. An estimated regional-specific index of risk sharing is used as a covariate in a model of industrial specialization. Allowing for nonlinearities and spatial dependence, we show that industrial specialization is positively affected by risk-sharing measures even controlling for other relevant regressors.File allegati a questo prodotto
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