Market Potential and Regional Disparities in Turkey

Regional disparity is one of the important characteristics of Turkish economy. The paper focuses on the explanatory power of market potential on the regional differences in Turkey. Regional divergences in wages and employment are used as the proxies for regional differences. Empirical results reveal that, under various specifications, variation in market potential is an important determinant of regional differences.

Geography of Talent for Understanding Regional Disparities in Spain

Tentative empirical evidence suggests that the agglomeration of talent contributes to regional development. However, given that talented people are not evenly distributed across regions, this paper seeks to determine the role of talent for furthering our understanding of regional disparities in Spain. Here, we empirically evaluate the effects of the distribution of talent on regional differences by means of a detailed analysis of the 17 Autonomous Communities of Spain between 1996 and 2004. The static and non-spatial panel data models are constructed. The unit of analysis is NUTS2. Our findings confirm that the economic performance indicators point to the significant positive impact of talent on regional economic activity. The concentration of talent plays a crucial role in accounting for regional differences. Based on a preliminary analysis of the dispersion in employment and production figures among the Autonomous Communities, the performance of Spain’s outperformers and underperformers is clearly not uniform

Role of Spatial Dispersion of Creative Capital for Understanding Regional Differences in Spain

Abstract It has been argued that ‗creative class' as a source of growth has gained increasing attention in recent years. However, creative people are not spread equally; instead tend to concentrate within particular locations across nations or places. According to Florida, a main factor in explaining creativity driven growth is the location choice of creative people (Florida, 2002; Fritsch and Stuetzer, 2009). This research investigates the spatial distribution of creative capital and its effects on regional disparities by considering geographic differences of employment. We analyze the spatial distribution of creative capital associated with the dispersion of employment, human capital and regional inequalities. This dispersion is tried to be used as a possible factor behind the differences in Spain. Our findings indicate that provinces with low income per capita clusters vanish from 1996 to 2004, while creative capital and human capital concentrations are mostly the same

Dynamics of the co-movement between stock and maritime markets

This study demonstrates the existence of economically significant information spillovers between stock markets and markets for shipping freight by sea. Using multivariate correlation models on the returns of the Dow Jones Industrial Average (DJIA) and the Baltic Dry Index (BDI), we find mutual feedback between the two markets, which becomes stronger during the periods of financial turmoil. Results also suggest that the extent of information spillover between the markets varies over time, depending on market-specific conditions. We conclude that, being an indispensable factor for price discovery, such a relationship provides a link between two markets that are otherwise rather distinct with respect to the assessment of available information and real activity