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Recent studies in the innovation literature show that Foreign Direct Investment (FDI) enhances innovations in recipient countries through spill-over effects. In this paper we extend the existing literature by incorporating the corruption index in the estimation procedure. Using a cross-country analysis from the Europe and Central Asia (ECA) region, covering 57 countries over the period of 1995-2010, we find no evidence of FDI spill-over effects on innovations, when corruption is endogenously modelled in the regression. Interestingly, we find that corruption and expenditure on education sector are positively related to the number of patents applications, suggesting anti-corruption programs encourage innovations that promote economic growth. Our study shed light on the national innovations and anti-corruption programs. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper by the European Shadow Financial Regulatory Committee (ESFRC) is to provide an account of the financial crisis in Europe during the period 2010-2013 and an analysis of how the relevant authorities reacted to the crisis. Design/methodology/approach - These actions included measures taken by central banks, governments or fiscal authorities, and by regulatory or supervisory bodies. In a previous study covering the regulatory developments during the financial crisis up until 2009, issues such as the implementation of Basel III rules in Europe and the (mostly ad hoc and unilateral) resolution mechanisms set in most European countries to fight the crisis were covered. This study focuses on developments since 2010 with a focus on the concerns and actions that emerged with the sovereign debt crisis in the euro area. In particular, the transition from the European Financial Stability Facility to the European Stability Mechanism is assessed. The focus after 2012 has progressively turned to the challenges of the European banking union. Findings - These issues are jointly covered, along with some updates on the views of the ESFRC on recent advances in other areas, such as solvency regulation. All in all, the authors find that the weaknesses of the global financial system remain to be addressed, and they believe that the banking union is one of the main tools and opportunities for an improved and efficient crisis management in Europe. Originality/value - The paper aims at contributing to the study of financial regulation after the banking crisis. The experience of the euro zone in this context is assessed in this article from a wide range of perspectives. [ABSTRACT FROM AUTHOR]

In the coming years, the share of the working-age population in the total population will start to decline in all countries of the European Union. All other things remaining equal, this so-called demographic burden will have a downward effect on economic growth. This paper examines whether the Europe 2020 employment targets would be sufficient to compensate for the downward impact of demographic burden and whether the impact of demography on economic growth differs between EU countries and between urban and rural regions. The results show that raising employment rates to the Europe 2020 targets can restore positive opportunities for economic growth, but not in all countries and only to a limited extent. They also show that even though urban and rural regions differ in terms of population growth and growth of the working age population, the prospects for demographic burden are highly similar for both types of regions. [ABSTRACT FROM AUTHOR]

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper presents results of an international comparative research project ‘Smart governance of shrinking cities in a European context’. In recent years, many European cities have experienced urban shrinkage (population decline). Whereas there has been a wealth of research into the governance of growing cities, little consideration has been given to the governance of and policy responses to shrinking cities, particularly in relation to the declining cities of post-socialist Central and Eastern Europe. The aim of this paper is to compare the governance responses to shrinkage in different national contexts and assess the policy responses applied. This is done through the comparison of case studies examining the governance of shrinkage in Leipzig (Germany), Bytom (Poland), Ostrava (Czechia) and Timisoara (Romania). Two different strategies have been identified. First, Leipzig – due to its inclusion in the (former Western) German welfare state – followed a reasonably holistic strategy implemented by strong public actors focused not only on economic growth, but also on tackling issues of falling housing demand and the need to strengthen the attractivity of city centre. Second, in Ostrava, Bytom and Timisoara strategies have been inspired by neoliberal thinking, denying the important role of public sector city planning and ignoring the fact of shrinkage. In these cities, the main reply to shrinkage has been to seek economic development through the attraction of private investment (especially FDI) into the cities and using pragmatically any EU structural funding. [ABSTRACT FROM PUBLISHER]

In this paper, we revisit the relationship between educational and income inequalities in a historical perspective, using a newly developed annual dataset of average years of education in Europe. Theoretically one would expect a reduction in educational inequality should, given the positive correlation between education level and income, initially increase and then, at a later stage, reduce income inequality. Testing for such a Kuznets-type relationship between educational and income inequalities yields an unexpected result: we find the expected inverse U-curve before the 1950s, but the relationship changes into a normal U-curve afterward. We explain this observation by a change in the trend of skill premium during the second half of the twentieth century due to an increased relative demand for skills, which contradicts the usual assumption of decreasing returns to education. Due to lack of appropriate wage data, we cannot directly capture this effect. Yet, once we use an instrumental variable estimation method to filter out the effect of the omitted skill premium, the expected inverse U-curve also appears for the latter decades of the twentieth century. [ABSTRACT FROM AUTHOR]

In this paper, we analyze the causality among inflation, output growth, and their uncertainties in all European countries with emerging economies. For these countries, high uncertainty regarding economic growth during the current economic and financial crisis that started in 2008 caused their governments to increase their efforts to sustain growth, and to maintain a low level of inflation. Of the twelve possible hypotheses regarding the causal relationships among inflation, output growth, and their uncertainties, we consider five relationships for which we find strong theoretical arguments and empirical evidence in the literature. The empirical evidence strongly supports the Friedman-Ball hypothesis that inflation Granger-causes inflation uncertainty. For the other four tested hypotheses, fewer significant causal relationships are obtained. [ABSTRACT FROM AUTHOR]

Copyright of Spatial Economic Analysis is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

Over the last 5 decades, the economic landscape in Europe has been transformed rapidly due to innovation, digitisation of the economy, and emergence of new sources of growth. However, the complex dynamics among diffusion of innovation, penetration of information and communication technology (ICT), and economic growth have not been adequately studied. This paper investigates the relationships among these three variables for European countries over 1961–2016. The goal is to determine whether the direction of causality among the variables runs both ways, one way, or not at all. Using a vector error-correction model, we find that in the long run, both innovation diffusion and ICT penetration stimulate economic growth. In the short run, however, the causal links are not always uniform and depend on proxies that are used for innovation diffusion and ICT penetration. The results provide valuable insights on the types of policies and strategies that would sustain economic growth in European economies. [ABSTRACT FROM AUTHOR]

With the latest global economic crisis (2007-2009) the importance of fiscal policy as a part of economic policy is growing. Its significance extends from the experience of the Great Depression of the 1930s. In this paper, with the help of the ARIMA model, the influence of fiscal policy instruments on macroeconomic fiscal indicators and some selected indicators of economic development in the context of countries of Southeast Europe have been explored. Friedman's test has shown that the countries have not yet recovered from the global economic crisis. The results shows that fiscal policy can act on the individual's standard of living, but only responsible implementation will have the same effect on public finances and the overall sustainable development of a country. Also, fiscal policy is an important measure of agricultural policy and is increasingly being used as a directional development factor. [ABSTRACT FROM AUTHOR]

Human capital is supposed to be an important factor for innovation and economic development. However, the long-run impact of human capital on current innovation and economic development is still a black box, in particular at the regional level. Therefore, this paper makes the link between the past and the present. Using a large new dataset on regional human capital and other factors in the 19th and 20th century, we find that past regional human capital is a key factor explaining current regional disparities in innovation and economic development. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine whether investors’ sentiment affects accruals anomaly across European countries.Design/methodology/approach The authors estimate the model using Fama–MacBeth regressions. The sample includes 54,572 firm-year observations for 4,787 European firms during the period 1994–2014.Findings The authors find that investors’ sentiment influences accruals mispricing across European countries. The effect is pronounced for stocks whose valuations are highly subjective and difficult to arbitrage. The cross-country analysis provides evidence that sentiment influences accruals anomaly in countries with weaker outside shareholder rights, lower legal enforcement, lower equity market development, higher allowance of accrual accounting and in countries where herd-like behavior and overreaction behavior are strong.Research limitations/implications The findings suggest the generalizability of the sentiment-accruals anomaly relation in European countries characterized by different cultural values, levels of economic development and legal tradition.Practical implications The findings suggest to caution individuals investors. These investors would be wise to take into account the impact of sentiment on the performance of their portfolio. They must keep in mind that periods of high optimism are accompanied by a high level of accruals and followed by low future stock returns.Originality/value The research supplements previous American studies by showing the significance of the level of sentiment in understanding the accruals anomaly in Europe. Hence, it is important for future studies to consider investor sentiment as an important time-series determinant of the accruals anomaly, particularly for stocks that are hard to value and difficult to arbitrage. [ABSTRACT FROM AUTHOR]

The paper presents the main findings regarding the role of women entrepreneurs in Europe specifically, and how the influence of alternative forms of finance and networking support helped their business development. The main results show that, even though women are considered one of the greatest powers of macro environment development, they are not aware of the possibilities of financing their business and they do not trust the women networks to have business with. -consider revising [ABSTRACT FROM AUTHOR]

In a recent contribution, Redding and Schott [2003. "Distance, Skill Deepening and Development: Will Peripheral Countries Ever Get Rich?" Journal of Development Economics 72 (2): 515-541. doi:10.1016/S0304- 3878(03)00118-4] add human capital to a two sector NEG model, highlighting that remoteness represents a penalty that gives disincentives to invest in human capital. But is this hypothesis consistent with long-term evidence? We test the persistence of this effect at the regional level in an historical setting. The results show that market access has a significant positive influence on human capital in OLS, Tobit and IV regression models. Thus, the paper confirms the 'penalty of remoteness' hypothesis for Europe in the long run. [ABSTRACT FROM AUTHOR]

This paper analyzes broad performance-based measures of intangibles in European Union countries to find new sources of growth and shows that intangible capital (IC)-driven growth was halted in European industries during the 2008-2013 financial crisis period. Much of this IC, such as purchased organizational, research and development (R&D) and information and communication technology capital, is unaccounted for in systems of national accounts, so that total IC investment is 29.6% of value added, with R&D having the lowest gross domestic product share at 5.0%. On average, deteriorating IC growth has decreased labor productivity by −2.9% annually. Policies fostering multifactor productivity growth have been strongly biased and have ignored the loss of those skills necessary for long-term growth. During 2008-2013, innovation thus failed to compensate for Europe’s dwindling fixed-capital-intensive manufacturing and job losses, but broad-based IC offers a roadmap for recovery by relying on an increasing role for IC-producing services. [ABSTRACT FROM AUTHOR]

The article highlights the Conference of University Professors on the use of monetary and fiscal policy held in Europe in 1968. Attendees of the conference examined the integration of European capital markets and plans to develop papers on the theoretical issues involved in the introduction of money into models of economic growth. The fourth session of the conference examined abstractions and realities of monetary theory. The article also presents a description of several papers presented at the conference.

The article provides updates on the publication of the journal "Urban Research & Practice" of the European Urban Research Association (EURA). It is stated that the association aimed for further academic study and debate of the problems and opportunities of urban societies and the development of effective urban policies. It seeks to reflect the rich diversity of thought, approach and research that characterizes the study of urban areas in Europe. It hopes to contribute to the general understanding of developments in Europe and worldwide in the development of urban areas.

This paper develops a semi-endogenous growth model for analysing the intertemporal effects of structural reforms in Southern European countries (Italy, Spain, Portugal and Greece). The model follows the product-variety paradigm in a semi-endogenous setting, and includes a disaggregation of labour into different skill groups. We use a comprehensive set of structural indicators in order to calibrate the model to important macroeconomic ratios and levels of productivity and employment. Our results show that structural reforms yield significant economic gains in the medium and long run. The results point to the importance of product market reforms and labour market related education and tax reforms as the most promising areas of structural policy interventions. This paper also argues for placing more emphasis on education policy which is key in upgrading the labour force, especially in these countries where the share of low skilled labour is among the highest in the euro area. [ABSTRACT FROM AUTHOR]

Electric energy plays a pivotal role in the global economic development, hence the developing countries have inadequate electricity supply compared to their developed counterparts. Inadequate access to electricity hinders development in Nigeria and the most substantial efforts towards tackling the electricity deficit commenced with the enactment of the Electric Power Sector reform Act, 2005 (EPSR Act) which aims at privatizing the industry. This paper attempts to critically examine the implementation strategies of the Act vis-a-vis the challenges being faced in bridging the reliable supply gap compared with the developed electricity markets of Europe and United States of America (USA).With emphasis on the transmission and system operation subsector, the paper draws lessons from the United Kingdomand the USA; concluding that privatization of the Nigerian electricity industry is the way to a sustainable and more efficient reform. [ABSTRACT FROM AUTHOR]

The recent developments of the economic theory suggest that due attention to territorial context increases efficiency and improves delivery of the policies. This in turn calls for better linkages between spatial and socio-economic efforts. The paper analyses the concept of policy territorialization and proposes policy tools for that purpose. The relevant theoretical models are used, mainly evolutionary economics and new economic geography. The key outcome is a set of territorial keys supposed to enhance territorial approach in developmental policies. Also some plausible ways of making use of those keys are proposed and then tested using Polish territory as a case study. [ABSTRACT FROM AUTHOR]

The aim of the paper is to establish the future intervention priorities in building a new programme that would target the economic development in the research area. The used methodology included an adapted A'WOT analysis - an initial SWOT analysis and a prioritization of the items through an expert questionnaire. In the present paper we analyze the experts' opinions and the areas where intervention is needed for the optimum strategies for the 2014-2020 financial frame. These should rely on the strengths in the Guidelines for Applicants, the rules for projects implementation and the institutional system, it should consider changes on the weak points concerning the programme objectives, the Guidelines for Applicants and the beneficiaries consultations, it should make use of opportunities coming from the crossborder status, European Union frame and economic opportunities and overcome the differences coming from crossborder status, membership of two different supranational structures and the economic gaps. [ABSTRACT FROM AUTHOR]

This paper estimates and analyses wage inequality trends in Portugal, from 1944 to 1984, a period that comprises the Estado Novo dictatorship and the first decade after the transition to democracy. Wage inequality is measured by the gap between skilled and unskilled labour, and reveals a downward trend in most of the period in analysis. We provide an explanation for the observed trends by looking at the influence of domestic and international forces on changes in the relative supply and demand of skilled labour. According to our findings, the skill premium declined due to the combined influence of two major forces: an increase in the relative supply of skilled labour due to the mass emigration of unskilled labour, and the decrease in the relative demand for skills, related to trade-induced changes stemming from the country's increasing openness, which followed the country's unskilled labour comparative advantages. Our findings point to the conclusion that the impact of openness on wage inequality is related to the country's relative level of development among its major trading partners. [ABSTRACT FROM PUBLISHER]

Copyright of Comparative Economic Research is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this paper is to analyze the relationship between inequality and the equivalent disposable income available at a regional level and to contrast the type of relationship between two variables in the developed world in the context of a standard neoclassical growth model. In this paper we will estimate a panel data model using the method of OLS fixed effects, and also analyze the possible existence of spatial autocorrelation in the model and the need for implementation of spatial models. A novel contribution is estimated by a semiparametric analysis, which allows conditional no Relational function. Semiparametric analysis, unlike the nonparametric analysis, allows the introduction of other variables by a linear function defined as the initial inequality, population density, employment in various sectors (industry mix), transfers, etc. This application of the semiparametric analysis is a relevant contribution to the study, since it is still a novel technique for the study of inequality. [ABSTRACT FROM AUTHOR]

This paper proposes the notion of territorial patterns of innovation as a new conceptualization to understand the relationship among knowledge, innovation, and economic growth at the regional level. The territorial patterns of innovation approach reject the simplistic view of an invention-innovation equivalence and advance alternative patterns, alternative ways in which knowledge and innovation can take place and mix in space. Each of them represents a different way of innovating, one not necessarily more efficient than the other. On the empirical ground, the paper demonstrates this statement for all NUTS2 regions of the 27 European Union states by showing that the efficiency in taking advantage of innovation does not only link to the strength of the local knowledge base; rather, territorial patterns of innovation characterized by relatively low knowledge intensity can be relatively more efficient in grasping and exploiting innovation returns for growing. Interesting policy implications can be drawn from the empirical analysis presented. If the results do not deny the importance of research and development ( R&D) activities for regional growth, and therefore the right focus put forward by the Europe 2020 on a 'smart growth' based on knowledge and innovation, they call for particular attention when the Europe 2020 goal is translated into a regional setting. [ABSTRACT FROM AUTHOR]

European universities have been increasingly pressured since the late 1990s to make a more visible contribution to economic development. This policy interest has produced an increasing focus on knowledge transfer generally, and more specifically on measures to promote a research culture which values patenting and firm formation. This paper presents results from an interview study of academic faculty views on knowledge transfer and commercialisation at five public universities in Sweden. Our results show that, despite the retention of inventor ownership at Swedish universities, there is a high degree of knowledge transfer of all kinds. The overriding driver of entrepreneurial behaviour among faculty appears to be the low level of direct funding for research in universities. We find that attitudes to firm formation vary from positive to ambivalent, and that faculty from the humanities and social sciences engage in a higher level of entrepreneurial and policy adaptive behaviour than they report. We conclude that faculty at Swedish universities perceive the role of public servant and entrepreneurial academic as conflicting. This perceived conflict may be one reason for reluctance to report instances of commercialisation of research. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to present a survey by GLOBESCAN for Ethical Markets Media, LLC which was released at the "Beyond GDP" Conference in the European Parliament, 19-20 November. Design/methodology/approach - The methodology is survey based. Findings - Three-quarters of people in ten countries agree that their governments should look beyond economics and include health, social and environmental statistics in measuring national progress. Originality/value - This paper is contrary to the accepted view of appropriate national growth measures. [ABSTRACT FROM AUTHOR]

European policy makers have shown a keen interest in the success of 5G because ubiquitous and high capacity electronic communication infrastructure is recognized as a cornerstone of economic development and productivity growth. The second generation, GSM, is considered the leading example, reaching its peak of deployment in 2015 with 3.83 billion subscribers served by over 700 operators in 219 countries and territories. With 5G rapidly shaping up in the R&D and standardization environments, and a call for leadership with 5G in Europe by policy makers, it is timely to investigate what lessons can be learned from the success of 2G that can be applied to 5G. More broadly, this calls for research into the commonalities and differences between successive generations of mobile technology, their introduction and the market adoption that followed. This also calls for an investigation into the possibility of multiple futures of 5G and how that impacts the opportunity for leadership. As one future may be more desirable than the other, depending on the perspective of the actor involved, a policy debate will be required to determine the most desirable future. As well as a discussion of the policy and regulatory actions required to enable a particular future. Hence, the two-part research question being addressed in this paper is: What explains the success of 2G-GSM and how can it be applied to create success with 5G in the European Union ? To respond to the research question this paper first identifies the leadership lessons to be drawn from the success of 2G-GSM in relation to its successors 3G and 4G. Secondly, the contribution describes two stylized images of possible futures of 5G, called “Evolution” and “Revolution”, as input to the policy debate on the options for leadership with 5G. These images reflect two extremes in terms of possible futures of 5G. “Evolution” follows the pattern of previous generations and current trends. “Revolution” represents a clear break with these trends and a path towards leadership with 5G, as it exploits the opportunities of standardized APIs for service creation, being enabled by network virtualization as an architectural foundation of 5G. These open and uniformly applied APIs allow the market entry of a multitude of virtual mobile network operators (VMNOs) serving particular industry verticals or economic sectors with tailored feature sets and qualities of services. They allow a market momentum to be built that constitutes leadership with 5G in Europe. [ABSTRACT FROM AUTHOR]

Copyright of Calisma ve Toplum is the property of Calisma ve Toplum and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In recent years, the endogenous development ( ED) approach has gained influence within the rhetoric of European rural development policies ( RP). This paper provides a fundamental critique of the approach and shows that neither the economic elements of RP in general nor ED in particular are targeted towards the specific economic needs and capabilities of rural areas. The second part of this paper consists of the search for possible alternative concepts for a more targeted and effective RP. Based on a synopsis of existing theories, an integrated approach is proposed that builds upon the different coordination mechanisms for economic activity suggested by different theories. The new, integrated perspective enables an economic characterisation of rural areas and indicates that the successful support of local coordination of economic activity is determined by specific local conditions. It also makes evident that localised approaches usually cannot compensate rural areas for the lack of agglomeration advantages. Therefore, programmes for the economic development of rural areas which support the local coordination of economic activity remain a second-best policy. As such, they do not free the state from policies of spatial redistribution if the political aim is the creation of comparable living conditions. [ABSTRACT FROM AUTHOR]

In this paper we analyse the impact of financial liberalization and reforms on the banking performance in 17 countries from CEE for the period 2004–2008 using a two-stage empirical model that involves estimating bank performance in the first stage and assessing its determinants in the second one. From our analysis it results that banks from CEE countries with higher level of liberalization and openness are able to increase cost efficiency and eventually to offer cheaper services to clients. Banks from non-member EU countries are less cost efficient but experienced much higher total productivity growth level, and large sized banks are much more cost efficient than medium and small banks, while small sized banks show the highest growth in terms of productivity. [ABSTRACT FROM AUTHOR]

The aim of this paper is to investigate the impact of foreign direct investment (FDI) on economic growth in the transition countries of southeast Europe. The empirical analysis embraces seven southeast European countries in the period 1998-2007. The authors use Prais-Winsten regression with panel-corrected standard errors for the preferred estimation model. The main research result is the positive and statistically significant effect of FDI on economic growth. The impact of FDI is statistically significant and robust when including data on domestic investments. The results are robust to considering endogeneity issues (i.e., inverse causality). [ABSTRACT FROM AUTHOR]

Abstract: This paper deals with the problem of new intermediate products within a simple model, where production is circular and goods enter into the production of other goods. It studies the process by which the new good is absorbed into the economy and the structural transformation that goes with it. By means of a long‐period method the forces of structural transformation are examined, in particular the shift of existing means of production towards the innovation and the mechanism of differential growth in terms of alternative techniques and their associated systems of production. We treat two important Schumpeterian topics: the question of technological unemployment and the problem of ‘forced saving’ and the related problem of an involuntary reduction of real consumption per capita. It is shown that both phenomena are potential by‐products of the transformation process. [ABSTRACT FROM AUTHOR]

Copyright of Industry / Industrija is the property of Economics Institute and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper, we argue that Ireland’s post-crisis economic recovery in Europe was driven by foreign direct investment (FDI) from Silicon Valley, and while this growth model was made possible by Ireland’s low-corporate tax rates, it was also a result of these firms using Ireland to directly access the European labour market. We evidence this contention via sectoral and geographic analyses while simultaneously showing that Irish fiscal policies have not redistributed gains from the recovery to the broader population. As a result, the economic recovery has been most actively felt by those in the FDI sectors, including workers from the EU and beyond. Building on theories from the study of comparative capitalism, we suggest that this experience indicates that Ireland’s FDI-led growth model has created clear winners and losers, with significant distributional implications. The FDI growth regime been made possible by inward migration and European integration, but given the unequal distribution of the economic benefits that this generates, it is unlikely to be politically, or electorally, sustainable. [ABSTRACT FROM PUBLISHER]

This paper explores the specialisation of European Union (EU) regions in key enabling technologies (KETs) and assesses whether or not being specialised in these technological areas has an effect on regional growth. The evidence presented shows that regions specialised in KETs are concentrated in central Europe; however, over the period taken into account (1996–2011), less innovative and peripheral EU regions have been increasing their specialisation in these technological areas at the expense of the most advanced regions. There is also evidence that (spatial) diffusion of KETs often occurs across regions contiguous to each other. The results of the econometric estimations show that being specialised in KETs affects regional economic growth (per capita gross domestic product) and that this effect is stronger in the case of less innovative EU regions. Overall, these results hint at the pervasive nature and enabling role of KETs and demonstrate the importance for EU regions to target these technologies as part of their smart specialisation strategies. [ABSTRACT FROM AUTHOR]

An increasing number of theoretical and empirical analyses address the role of innovation as one of the main sources of firm growth. More recently, studies have looked at the role of gender diversity as a possible determinant of innovation and entrepreneurial performance. However, the relationship between gender and employment growth—a dimension of entrepreneurial performance—still remains unexplored to a large degree. This paper contributes to the empirical literature on gender and entrepreneurial performance in several ways. First, it examines the role played by both innovation and gender ownership as determinants of employment growth rates of young, knowledge-intensive entrepreneurial (KIE) firms. Second, it investigates the indirect impact of contributing factors—such as the characteristics of the market, knowledge-based capital, and human capital—on employment growth. And third, it relies on a rich new cross-sectional data set on young, KIE firms across European Union (EU) countries. The data set contains information not only on the gender of the firm’s founders but also on the market environment, business strategy, and innovative and economic performance of firms. [ABSTRACT FROM AUTHOR]

The aim of the paper is to analyse regional growth factors in Central and Eastern European Countries in the pre- and post-crisis era. The comparison is focused on core (metropolitan) and non-core (non-metropolitan) regions. The study found that the development processes of the analysed groups of regions were in many respects similar. Achieving a high level of development in the context of post-socialist transformation was possible mainly owing to exogenous factors such as the influx of foreign direct investment (FDI) and multimodal transport accessibility. In the case of endogenous factors, the number of small- and medium-sized enterprises per capita was of cardinal importance for a high level of development, but it was no guarantee of fast growth dynamics in non-core regions. The main differences between the core and non-core regions included the role of human capital and migrations as metropolitan regions represented growth poles which trained qualified specialists and served as destinations for migrants from non-core regions. However, the share of people with tertiary education played an important role in the development process of non-core regions. The crisis strengthened the role of exogenous growth factors, that is, the role of FDI inflow as well as the role of EU funds. [ABSTRACT FROM PUBLISHER]

This paper explores the role of micro, small and medium size enterprises in the growth of per capita gross domestic product at European Union level between 2005 and 2010. Using a panel of data from 25 Member States the results show a positive connection between the prevalence of SME in terms of created value added and GDP per capita growth. When investigating the aforementioned relationship at enterprise size class level the results differ considerably. While microenterprises prevalence in terms of created value added does not appear to cause more growth in per capita income at EU level, small and medium sized enterprises are some of the main drivers of the annual per capita GDP growth. [ABSTRACT FROM AUTHOR]