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This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences. [ABSTRACT FROM AUTHOR]

This article investigates the impact of financial liberalization on aggregate productivity growth. Based on a sample of the EU accession countries and using quarterly longitudinal panel data between 1995 and 2007, the static robust and dynamic panel data estimates indicate clear evidence of a link between the long-run growth and a number of indicators of financial liberalization. The empirical results illustrate that financial liberalization is negatively related to economic growth significantly. The results imply that higher levels of post-EU-membership growth are not caused by liberalized financial markets. [ABSTRACT FROM PUBLISHER]

Exploiting the information contained in an economy’s input-output matrix and using the novel approach developed by Fisher and Marshall (2011), we calculate Rybczynski effects and Stolper–Samuelson effects for Germany in 2007. We show how sectoral output and factor remuneration react to exogenous changes of factor endowments and product prices, respectively. These calculations are implemented using two different models comprising one with labour and capital as the classical production factors and one where we introduce patent stock as an additional factor of production. In the former, we further differentiate between a scenario where all production factors are mobile and one with sector-specific capital. In the latter analysis, we measure the impact of innovation-targeting policy action for sectoral output. Positive Rybczynski effects of patents and high-skilled workers are strongest in knowledge-intensive sectors, while other sectors contract. The introduction of patents as a further production factor has only minor influence on the Rybczynski effects of other factors. [ABSTRACT FROM PUBLISHER]

This paper discusses a number of questions with regard to Sweden's economic and political development: • How did Sweden become rich? • What explains Sweden's high level of income equality? • What were the causes of Sweden's problems from 1970 to 1995? • How is it possible that Sweden, since the crisis of the early 1990s, is growing faster than most EU countries despite its high taxes and generous welfare state? These questions are analysed using recent insights from institutional economics, as well as studies of inequality and economic growth. The main conclusion is that there is little, if any, Swedish exceptionalism: Sweden became rich because of well-functioning capitalist institutions, and inequality was low before the expansion of the welfare state. The recent favourable growth record of Sweden, including the period of financial stress (2008–10), is a likely outcome of a number of far-reaching structural reforms implemented in the 1980s and 1990s. [ABSTRACT FROM PUBLISHER]

In this paper, we investigate possible sources of declining economic growth in Italy beginning near the middle of the 1990s. A long-term data analysis suggests that the poor performance of the Italian economy cannot be blamed on an unfortunate business cycle contingency. Other countries of the euro area have shown better performance, and the macroeconomic data indicate that the Italian economy has not grown at the same rate as these other European economies. We investigate the sources of economic fluctuations in Italy by applying the business cycle accounting procedure introduced by Chari et al. (Econometrica 75(3):781-836, ). We analyze the relative importance of efficiency, labor, investment and government wedges for business cycles in Italy during the 1982-2008 period. We find that individual wedges have played different roles during this period; however, the efficiency wedge is shown to be the factor most responsible for the stagnation phase that began in approximately 1995. Our findings also show that the decline in labor market distortions that occurred in Italy during the 1990s alleviated the stagnation effect somewhat and prevented an even more abrupt slowdown in per capita output growth. [ABSTRACT FROM AUTHOR]

Similar to, for example, the US, Switzerland or Great Britain the German health care sector has recently undergone a series of reforms towards managed care. These measures are intended to yield both a higher quality of care and cost containment. In our study we ask whether managed care reduces health care expenditure at the market level. We apply a macroeconomic evaluation approach based on a regional panel data set which is as yet unique in the context of managed care. Econometrically, we account for both unobserved heterogeneity and spatial dependence, i.e. regional interrelations in health care. We discuss alternative model specifications and include a range of sensitivity analyses. Our results suggest that in contrast to public perception the share of managed care contracts has a positive impact on pharmaceutical spending, in particular through regional spillover effects. [ABSTRACT FROM AUTHOR]

The production of scientific and technical knowledge is mostly concentrated in specific locations (high-tech clusters, innovative industry agglomerations, centres of excellence, and technologically advanced regions). Knowledge flows very easily within regions; however, scientific and technical knowledge also flow between regions. The aim of this paper was to analyse how knowledge flows between regions, and the effect of these flows on the innovative performance, measured by patent applications. We estimate a regional knowledge production function, and, using appropriate spatial econometric estimation techniques, we test the effect of both geographical and relational autocorrelation (measured by participation in EU funded research networks as part of Fifth Framework Programme). We model unobservable structure and link value of knowledge flows in these joint research networks. We find that knowledge flows within inter-regional research networks, along non-symmetrical and hierarchical structures in which the knowledge produced by network participants tends to be exploited by the network coordinator. [ABSTRACT FROM AUTHOR]

While the distinction between manufacturing and services becomes increasingly blurred to some observers, we find, using a panel of Swedish firms, clear evidence that foreign sales (exports) are more important than domestic sales for stimulating R&D. This is particularly clear for manufacturing and this importance of foreign sales has increased over time, simultaneous to an opening up of the Swedish economy. Even though service industries have seen an increase in both R&D and trade over time, it is thus mainly manufacturing that has benefited from increased possibilities for absorptive capacity. This result suggests a clear dichotomy between manufacturing and services in terms of how they react to trade and how they turn towards the foreign market vs. the domestic market to find stimuli for innovation. [ABSTRACT FROM AUTHOR]

Having failed to identify local energy supplies compliant with Kyoto Protocol obligations, the EU turned to Africa in the 21stC. According to definition, the term ‘renewable energy’ source equally describes slaves, forests and rivers. Environmental history analysis demonstrates the 1) poverty of economic analysis; 2) inadequacies of short-term and local check-list style of environmental impact assessment; and 3) parallels between the social violence of the trans-Atlantic slave trade and the environmental violence of conventional renewable energy technologies. Technological innovation and development enabled separation of electricity production from its use, obscuring social and environmental effects. Neo-liberal economics’ shift in electricity's definition from public good to commodity promoted gigantic environmental interventions with complex and unanticipated consequences. The 21st C requires more nuanced evaluation by Africans of energy production technologies and export policies, while Europeans make concerted efforts to control - and reduce - demand. [ABSTRACT FROM PUBLISHER]

Alternative intellectual property laws relating to the use of languages in IP organisations can result in an asymmetric distribution of costs of patenting between innovators. We present a framework for the characterisation and evaluation of the fairness of the language regime of the European Patent Office (EPO), which is currently based on three official languages: English, French and German. We estimate that the costs of access to patenting procedures borne by English-, French- or German-speaking applicants are at least 30 % lower than those borne by European applicants whose first language is not one of the current official languages of the EPO. In order to correct language-related cost asymmetries, we explore two possible alternative language regimes. In both cases, we introduce a centralised system of financial compensation that covers translation costs borne by European applicants whose first language is not one of the official languages of the EPO. In the first alternative, financial compensation is covered by savings on current translation costs at the granting stage. In the second alternative, the number of official languages is increased to five and financial compensation is funded by an increase in filing fee and by partial savings on translation costs at the granting stage. We show that both alternatives could substantially reduce language-related costs asymmetries among European applicants. In addition, we show that the five-language alternative would reduce the global costs of access to patenting procedures borne by all European applicants. Thus, more multilingualism can be cheaper than less multilingualism, provided that 'implicit costs' are taken into account. We conclude discussing under which conditions the alternative language regimes proposed could have a positive impact on the effectiveness and the cost-effectiveness of the EPO language regime. [ABSTRACT FROM AUTHOR]

The establishment of an Association Agreement/Deep and Comprehensive Free Trade Agreement (AA/DCFTA) with the European Union (EU) would be the next significant step towards Ukraine's deeper integration into the world economy. Despite widely expected additional welfare gains, the signing of the AA/DCFTA at the Third Eastern Partnership summit in November 2013 in Vilnius was suspended by the Ukrainian government due to geopolitical concerns and a severe economic and financial crisis in Ukraine coming along with high external debt and a substantial public budget deficit. This puts the fiscal consequences of Ukraine's continued liberalization into focus, as transition and developing countries face higher fiscal costs associated with trade integration. Accordingly, this paper contributes to the literature by analyzing the part of the potential EU-Ukraine DCFTA which leads to a loss of tariff revenues, namely the tariff elimination. In particular, we apply a static Computable General Equilibrium (CGE) model for the single small open economy of Ukraine and focus on the effects of Ukraine's unilateral tariff elimination by simulating three scenarios reflecting different means to compensate for the loss of tariff revenues. It turns out to be important to take these costs into consideration while modeling trade liberalization, as the results vary significantly across the scenarios. [ABSTRACT FROM AUTHOR]

We examine the provincial-level relationship between domestic Chinese intellectual property (IP) and knowledge stocks using a space-time panel model and data set covering monthly patent activity over the period 2002-2010. The goal of the modeling exercise is to explore the elasticity response of IP to knowledge stocks classified by type of creator (universities and research institutes, enterprises, and individuals). A focus is on spatial and time dependence in the relationship between knowledge stocks and IP, which implies spatial spillovers and diffusion over time. Many past studies of regional knowledge production have focused on patent applications as a proxy for regional output from the knowledge production process. However, this ignores the distinction between patent applications and patents granted, with the latter reflecting a decision and ability to convert knowledge produced into IP. This study differs in its focus on the regional relation between IP and knowledge stocks and the space-time dynamics of these. Using patents granted as a proxy for IP, and past patent applications as a proxy for regional knowledge stocks, allows us to explore the implied quality of knowledge production by various types of creators. Because Chinese patent applications have grown by 22 %, questions have been raised about the quantity versus quality of these applications. Our findings shed light on this issue. [ABSTRACT FROM AUTHOR]

Abstract: Using population-wide data on inventors and their demographic characteristics, the paper analyzes trends and patterns by technologies in age, the level of education, and gender gap. We find that the education level of inventors has risen over time. We also find that the gender gap is closing but at slower pace than in other comparable areas of society. Much to our surprise, the average age of inventors has been falling in all areas, despite rising levels of education. To explain the latter finding, we suggest three mechanisms as alternatives to the burden of knowledge argument: 1) the burden of dynamic knowledge renewal, 2) new technological opportunities, and 3) a generally increased propensity to patent. We discuss policy and managerial implications of our findings. [Copyright &y& Elsevier]

ABSTRACT This paper applies a collective model of intra-household welfare distribution using individual self-reported data. The model accounts for household production, and self-reported information on economic condition is used to identify the sharing rule governing the bargaining process in the family. The theoretical framework implies a broad concept of full income, which includes household production as time allocated to domestic activities. We find that self-reported data on economic status are useful in recovering individual shares of household income and that both wages and non-strictly-economic individual variables play an important role in the bargaining process determining the sharing rule in Italy. [ABSTRACT FROM AUTHOR]

This paper discusses how the externality of environmental damage affects the equilibrium properties of a simple overlapping generations model with multiple regions. Simulation results indicate that the environmental policy of the government decreases capital accumulation. When the government imposes an environmental tax on the urban sector, the urban-to-rural population ratio decreases, whereas the total fertility rate increases. [ABSTRACT FROM AUTHOR]

Copyright of Regional Studies 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.)

In the last decades Third mission of Universities (encompassing Technology and Knowledge Transfer) has come abreast of the two traditional tasks of Universities. Organization of Universities and attitude of researchers in this field still needs to undergo research. The present work provides experimental evidence of the differences existing in such terms between a specialized technological University and a generalist 'Humboldtian' one (with particular regards to its scientific departments). The experimental study is performed on two Italian Universities with similar formal structure and external environment, but with different specialization and research/teaching subjects. Two databases-one agent-based, the second institutional-based-are exploited in order to highlight characters. Results show different organization and attitudes. This may be due either to different organization of internal competencies and responsibilities, or to a different historical path of external relations. Results might prove relevant for the organization of Third mission activities with particular regard to Technology Transfer. [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.)

Copyright of Regional Studies 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.)

We investigate the finance-growth nexus for a sample of thirteen transition economies over the period 1995-2007 using panel cointegration tests and a panel error-correction model. By combining results for models with alternative dependent variables and several measures of financial development, we find that the relationship between financial deepening and real growth is largely positive in the long-run, and it develops its full potential when funds are directed towards private enterprises. In the short-run, however, the growth effects of an expansion of financial markets are weaker and negative, supporting the idea that financial development has also a dark side, as it exacerbates fragility and destabilizes the economy through recurrent crises. [ABSTRACT FROM AUTHOR]

We augment the existing literature on regional convergence by uncovering a number of stylized facts on the heterogeneity of regional convergence processes in the absence of currency devaluation as a key policy instrument, and use them to highlight reform strategies that are most likely to be conducive to a successful catching-up of the periphery countries of EMU. We show that regional convergence processes in Europe were extremely heterogeneous, highly discontinuous and strongly concentrated during the last two decades. These stylized facts question the focus of the traditional literature on average (β-)convergence and suggest substantial nonlinearities in regional convergence processes that have yet to be understood in detail. Our results further suggest that growth strategies based on increasing human capital investments and innovation capacities are the most likely to be successful in triggering convergence of lagging regions in currency unions. [ABSTRACT FROM AUTHOR]

Highlights: [•] Multiplicative and additive LMDI to decompose increases in CO2 emissions in the EU-27. [•] Emission factors and especially GDP per capita effects have a positive impact on them. [•] Inter-regional differences on growth and differences in fuels evolution bear out that. [•] I&D, diffusion and access to more efficient technologies are main helpful tools. [•] The less developed the country, more necessary using more efficient techniques. [Copyright &y& Elsevier]

The aim of this paper is double. Firstly, it contributes to identifying the specific role of national culture as a variable that helps explain the level of economic development and reinforces the effect of entrepreneurship on the income level. Secondly, a deeper understanding of these relations in the case of the European Union is sought. In this study, data from two different sources have been used. The Schwartz Value Survey measures seven cultural orientations that are then grouped into three bipolar dimensions (embeddedness vs. autonomy, hierarchy vs. egalitarianism and mastery vs. harmony). The Global Entrepreneurship Monitor provides information regarding entrepreneurial activity. Using linear regression analysis, cultural and entrepreneurial variables are able to classify countries according to their development level, explaining over 60 % of the variance in Gross Domestic Product per capita. The role of culture is complex, with geographical elements being significantly relevant. In the case of Europe, some common elements conform what could be called 'a European culture': autonomy and egalitarianism clearly predominate over embeddedness and hierarchy, while harmony tends to prevail over mastery. Nevertheless, four well-defined groups of countries within the European Union emerge. Central and Northern Europe is closer to this European stereotypical culture, while English-speaking countries, Eastern Europe and the Mediterranean area exhibit their own differentiating elements each. These differences also exist with regard to entrepreneurial activity (overall Total Entrepreneurial Activity, necessity and opportunity-driven activity). Each of the four regional entrepreneurial cultures is characterized by a different entrepreneurial dynamics that may be plausibly explained by culture and income. [ABSTRACT FROM AUTHOR]

The European Neighbourhood Policy (ENP) set an additional objective for the Southern Mediterranean Countries (SMCs): the prospect of ‘a stake in the internal market’. The launch of this new policy has been the occasion for a revival of empirical studies aimed at assessing the impact of the EU-MED partnership on bilateral trade. The novelty of this work is twofold: (i) to present nonparametric matching estimators besides gravity estimates; (ii) to assume as a counterfactual of the treatment the ex-post long-run average treatment effects of the Europe Agreements. By controlling for likely selection bias and country and time heterogeneity, using both qualitative and quantitative measures of the policy variable, we assess ex-post the trade-enhancing impact of the EU preferential agreements towards SMCs and ex ante the actual efficacy of the ENP. [ABSTRACT FROM PUBLISHER]

This paper provides an empirical analysis of the impacts of Florida's regional features also called regional climate or people climate on creative class as well as the regional economic development effects of the creative class in Italy on the basis of data drawn from Creativity Group Europe: Italy. The analyses show that a people climate of tolerance and population density has a strong and positive impact on a region's share of the creative class which this, in turn, and technology has affected regional economic development enormously. Moreover, creative class is found to be superior to human capital in its positive impact on regional economic development where it is measured by regional per capita income. [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.)

Using a panel data set of European countries, this paper investigates the impact of crime on international tourism. Violent crimes are negatively associated with incoming international tourists and international tourism revenue indicating that international tourists consider the risk of victimization when choosing a location to visit. This impact is smaller in magnitude in Southern European countries with a coastline which are generally more attractive tourist destinations in terms of sea tourism, suggesting that victimization risk and attractiveness of the destination may be substitutable traits. [ABSTRACT FROM AUTHOR]

Abstract: This paper provides empirical evidence of the impact of life satisfaction on the individual intention to migrate. The impacts of individual characteristics and of country macroeconomic variables on the intention to migrate are analyzed jointly. Using the Eurobarometer Survey for 27 Central and Eastern European (CEE) and Western European (non-CEE) countries, we find that people have a greater intention to migrate when dissatisfied with life. The socioeconomic variables and macroeconomic conditions affect the intention to migrate indirectly through life satisfaction. At all levels of life satisfaction, individuals with similar characteristics have greater intentions to migrate from CEE countries than from non-CEE countries. These findings underscore the importance of individual life satisfaction not only as a strong predictor of the individual migration intention, but also as a mediator between individual socioeconomic variables and macroeconomic conditions and that intention. [Copyright &y& Elsevier]

This study investigated the determinants of business creation as a measure of entrepreneurship in European cities. It examined supply- and demand-side elements, actual and equilibrium rates of entrepreneurship, institutions and culture. These components were characterized using a dataset consisting of 21 indicators drawn from 184 cities in 20 European countries during the years 1999-2010. The study found that city size, self-employment, and tertiary education have a significant and positive impact on the number of new businesses registered. The implications of these findings are discussed in view of the European Commission's Small Business Act, which provides guidelines for the conception and implementation of entrepreneurship policies in the European Union. This paper's main contribution lies in the differentiation of factors that are context-specific (e.g., city-size) and others that can be influenced by policy (e.g., tertiary education). [ABSTRACT FROM AUTHOR]

In this article, we employ a number of econometric techniques in order to examine, on a quarterly basis, the transmission of fluctuations between the Greek and the other economic and monetary union (EMU) countries, respectively, after the introduction of the common currency in the period 2001–2012, which fully captures the recent recession. Our main finding is that the Greek crisis is, indeed, transmitted to several of its EMU counterparts, especially due to its various forms of debt but cannot (Granger) cause their economic activity except for in the short-run. [ABSTRACT FROM AUTHOR]

Copyright of Regional Studies 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.)