501,633 research outputs found

    Regionalizing telecommunications reform in West Africa

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    In recent years, there has been an increasing recognition that significant welfare gains could be realized through deep forms of regional integration which entail harmonization of legal, regulatory and institutional frameworks. Reforms that reduce cross-border transaction costs and improve the performance of “backbone” infrastructure services are arguably even more important for the creation of an open, unified regional economic space than trade policy reforms narrowly defined. This paper assesses the potential gains from regionalized telecommunications policy in West Africa. To this end, the paper: (i) discusses how regional cooperation can overcome national limits in technical expertise, enhance the capacity of nations credibly to commit to stable regulatory policy, and ultimately facilitate infrastructure investment in the region; (ii) identifies trade-distorting regulations that inhibit opportunities for regional trade and economic development, and so are good candidates for regional trade negotiations to reduce indirect trade barriers; and (iii) describes substantive elements of a harmonized regional regulatory policy that can deliver immediate performance benefits.E-Business,Environmental Economics&Policies,ICT Policy and Strategies,Transport Economics Policy&Planning,Emerging Markets

    THE VARIED IMPACT OF GREENWAYS ON RESIDENTIAL PROPERTY VALUES IN A METROPOLITAN, MICROPOLITAN, AND RURAL AREA: THE CASE OF THE CATAWBA REGIONAL TRAIL

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    This paper presents hedonic analyses designed to estimate the real estate premium from improved access to a regional greenway system in three distinct counties. The hypothesis is tested that unobservable factors relating to the overall economic structure of each county influence how and to what extent access to open space is effectively capitalized into residential sales prices.Land Economics/Use,

    Modelling the folk theorem of spatial economics: a heterogeneous regional growth model

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    During the last year, the research field of spatial economic has rapidly increased. There is consensus that the economic performance of a region depends not only on its own potential, but also on the development of their neighbouring regions. Knowledge spillovers, which are non constant over space, should influence the evolution of the region specific productivity. The so called "folk theorem of spatial economics" states, that increasing returns to scale are essential for explaining the uneven economic distri- bution of specific economic activity, which implies that knowledge spillover, agglom- eration and distribution of per capita productivity are closely linked. Thus, the aim of this paper is, to introduce a spatial regional growth model, which links first time knowledge spillover, agglomeration, distribution of per capita productivity and the grasp of spillovers. Further, it is shown in a simulation study, how different regimes of returns to scale and grasps of knowledge affect agglomeration and distribution of per capita productivity. One of key findings is, that grasp of knowledge affects dynamic distribution of per capita productivity. Moreover, the simulation study particularly finds support for the "folk theorem of spatial economics".Spatial Economics, Agglomeration, Spatial knowledge spillovers, New economic geography, Regional growth

    Modelling the folk theorem of spatial economics: a heterogeneous regional growth model

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    During the last year, the research field of spatial economic has rapidly increased. There is consensus that the economic performance of a region depends not only on its own potential, but also on the development of their neighbouring regions. Knowledge spillovers, which are non constant over space, should influence the evolution of the region specific productivity. The so called "folk theorem of spatial economics" states, that increasing returns to scale are essential for explaining the uneven economic distribution of specific economic activity, which implies that knowledge spillover, agglomeration and distribution of per capita productivity are closely linked. Thus, the aim of this paper is, to introduce a spatial regional growth model, which links first time knowledge spillover, agglomeration, distribution of per capita productivity and the grasp of spillovers. Further, it is shown in a simulation study, how different regimes of returns to scale and grasps of knowledge affect agglomeration and distribution of per capita productivity. One of key findings is, that grasp of knowledge affects dynamic distribution of per capita productivity. Moreover, the simulation study particularly finds support for the "folk theorem of spatial economics".Spatial Economics, Agglomeration, Spatial knowledge spillovers, New economic geography, Regional growth

    Differentiated bank strategies across the territory: an exploratory analysis

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    This paper aims to investigate to what extent there is a differentiated regional bank strategy in the Brazilian economy. Based on the Post Keynesian theory of regional liquidity preference (Dow, 1993), the paper analyses consolidate balance sheets of banks’ branches from several Brazilian regions. Through the analysis of some indicators that were built using the data, the article finds evidence for the thesis that the Brazilian Bank System’s strategy is heterogeneous across space. Furthermore, we conclude that this behaviour reinforces existing uneven regional patterns of development of the economy.bank strategy, regional liquidity preference, regional economics, development.

    Determinants of regional variations in the rate ofl profit. An empirical analysis for Austrian manufacturing 1972-1992

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    The rate of profit represents a central concept in economics and is commonly seen as one of the most accurate indicators for economic vitality of firms, industries, and regions. The level of profit rates is supposed to guide investment shifts between sectors and over space, the speed and direction of technological change, and the development of economic activity in the long run. Differentiales in regional profit rates may therefore be a major source for differences in regional economic development and regional competitiveness. While neoclassical regional economic theory postulates a tendency towards an equalisation in regional rates of profit, empirical studies show considerable and persistent regional differences in profitability. The aim of the paper is to analyse the pattern of profitability over time and space for Austrian manufacturing on a highly disaggregated regional level for the time period 1972-1992. An eclectic model is employed in order to analyse major sources for regional variations in profit rates. The model distinguishes four groups of determinants: production technology, capital-labour-relations, market competition, and spatial variables such as transport costs and agglomeration economies.

    The Empirics of New Economic Geography

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    Although a rich and extensive body of theoretical research on new economic geography has emerged, empirical research remains comparatively less well developed. This paper reviews the existing empirical literature on the predictions of new economic geography models for the distribution of income and production across space. The discussion highlights connections with other research in regional and urban economics, identification issues, potential alternative explanations and possible areas for further research.New economic geography, market access, industrial location, multiple equilibria

    Revenue-Recycling and the Efficiency and Spatial Distributional Impacts of Development Taxes

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    Recent studies that compare the efficiency and distributional impacts of alternative instruments to curb sprawl typically ignore what to do with the revenues from anti-sprawl policies, such as development taxes. This paper extends first-best analysis of development taxes aimed at preserving land at the urban fringe to account for interactions with other distortions within the urban system. By incorporating urban decline at the city core, which in turn, generates negative neighborhood spillover effects and extra pressure for development at the urban fringe, we provide a more complete framework to evaluate the efficiency and distributional impacts of development taxes. We consider three potential alternative schemes to recycle the revenues: lump sum recycling, earmarked revenues to purchase conservation easements that permanently save open space and earmarked revenues to subsidize a revitalization program at the city core. In this setting, when revenues from the development tax are earmarked to fund a conservation easement there is an additional welfare gain (relative to the lump sum case) because the threat of future conversation of open space is fully eliminated. Similarly, when revenues are earmarked to fund a revitalization program at the city core, there are additional sources of welfare that make this policy preferred relative to the lump-sum recycling scheme. Finally, we also explore the spatial distributional impacts of these three alternative recycling schemes.Urban Sprawl, Revenue-Recycling, Regional Coordination, Spatial Modeling, Environmental Economics and Policy, Land Economics/Use, Resource /Energy Economics and Policy, Q31, R14, R38,

    On clusters of entrepreneurs - an austrian approach to innovative milieu

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    For the last 10 years, connections between economic geography, theory of innovation and the new theory of growth have produced substantial progress in the analysis of regional agglomeration. In this context, the theory on "innovative milieus" developed by the GREMI group has adressed a wide range of theoretical issues dealing with the dynamics of local production systems. The economic of innovative milieu has enables the study of links between technological innovation and geographical proximity proving that coordination problem of local economic agents is a central theoretical question in the major perspective of an economic analysis of territory as space of coordination. Innovative milieus are discovery procedures and refer to collective actions. The purpose of this paper is to explore the nature of innovative milieu from an entrepreneurial process. We consider that entrepreneurs are a critical element in the emergence and validity of innovative milieus. Four main concepts from Austrian Economics - Entrepreneurship, dicovery process, coordination and imagination - guide our reflection on innovative milieu. Keywords : Entrepreneurship, Entrepreneur, Discovery Process, Austrian Economics, Innovative Milieu, Coordination.

    Chow-Lin Methods in Spatial Mixed Models

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    Missing data in dynamic panel models occur quite often since detailed recording of the dependent variable is often not possible at all observation points in time and space. In this paper we develop classical and Bayesian methods to complete missing data in panel models. The Chow-Lin (1971) method is a classical method for completing dependent disaggregated data and is successfully applied in economics to disaggregate aggregated time series. We will extend the space-time panel model in a new way to include cross-sectional and spatially correlated data. The missing disaggregated data will be obtained either by point prediction or by a numerical (posterior) predictive density. Furthermore, we point out that the approach can be extended to more complex models, like ow data or systems of panel data. The panel Chow-Lin approach will be demonstrated with examples involving regional growth for Spanish regions.Space-time interpolation, Spatial panel econometrics, MCMC, Spatial Chow-Lin, missing regional data, Spanish provinces, MCMC, NUTS: nomenclature of territorial units for statistics
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