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Diversity, Stability and Regional Growth in the U.S. (1975-2002)

This paper summarizes the theoretical arguments from evolutionary theory and ecological economics to put the trade-off between regional economic diversity and regional economic growth on stronger theoretical foundations. Hypotheses are tested using an empirical model that links regional economic diversity to stability and growth using data on 177 BEA areas of the continental United States during the period (1975-2002).

Effect of Regional Differences on the Performance of Software Firms in the Netherlands

This paper aims to explore the effect of regional differences on the performance of software firms in the Netherlands. Inspired by evolutionary economics, the authors account for the impact of (1) co-location and sharing a local knowledge base; (2) pre-entry experience in the same or related industries; (3) being connected; and, (4) having organisational capabilities to cope with change.

Debt and Corporate Governance in Emerging Economies: Evidence from India

The authors analyze the role of debt in corporate governance with respect to a large emerging economy, India, where debt has been an important source of external finance. The analyses indicates that while in the early years of institutional change, debt did not have any disciplinary effect on either standalone or group affiliated firms, the disciplinary effect appeared in the later years as institutions become more market oriented.

Why Companies Go Private in Emerging Markets? Evidence from Poland

The purpose of this study is to establish the financial characteristics of companies that have gone private using a dataset comprising of Polish companies. The results obtained are important both for investors wishing to identify entities characterized by a high likelihood of going private and for governmental authorities evaluating the methods and rationality of privatization mature state-owned enterprises.

Why is Economic Geography not an Evolutionary Science? Towards an Evolutionary Economic Geography Model

The paper explains the commonalities and differences between neoclassical, institutional, and evolutionary approaches that have been influential in economic geography during the last couple of decades. The authors argue that Evolutionary Economic Geography is an emerging paradigm in economic geography, yet without isolating itself from development in other theoretical approaches.

Putting New Economic Geography to the Test: Free-ness of Trade and Agglomeration in the EU Regions

Based on a new economic geography (NEG) model by Puga (1999), the authors use the equilibrium wage equation to estimate two key structural model parameters for the NUTS II EU regions. These estimations enable the authors to come up with an empirically grounded free-ness of trade parameter. In line with NEG theory, the estimation results show that a spatial wage structure exists for the EU regions.

Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model

In this paper the author presents simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to domestic and foreign interest rates and the EUR/USD exchange rate on economic growth in Poland over the period Q2, 1993 - Q2, 2003.

Industrial Cores and Peripheries in Brazil

The aim of this paper is to analyze the Brazilian case to identify the industrial cores and to find out whether Brazil follows this conventional view on industrial location in developing countries. This study is based on a database that merges two sets of data: the first describes 35600 industrial firms, and the second has information on the economic, social and urban structure of 5507 cities.