Intersectoral and spatial spill-overs of firms’ bankruptcy in Spain

Laura Serra (), Claudio Detotto, Pablo Juan and Marco Vannini
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Laura Serra: University of Girona
Pablo Juan: IMAC, University Jaume I (Castelló)

Letters in Spatial and Resource Sciences, 2022, vol. 15, issue 2, No 4, 197-211

Abstract: Abstract This paper employs provincial data to study the spatial and intersectoral spill-overs in aggregate failure rates in Spain, by using an Integrated Nested Laplace Approximation. The analysis is based on NUTS3 data over the time span 2005Q1-2013Q4. By speculating on the effects of the Spanish financial crisis, we document empirical evidence of the presence of spatial spill-overs among neighboring counties. Furthermore, some intersectoral spill-overs are also detected: we observe that Industry and Agriculture exhibit a positive impact on the Service sector. These results can be useful to design proper policy rules to better manage the spread of bankruptcies over time and space.

Keywords: Bankruptcy; INLA; Intersectoral; Spatio-temporal model (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s12076-021-00296-z

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