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Spatial patterns and determinants of firm exit: an empirical analysis on France

Giuseppe Arcuri (), Marc Brunetto () and Nadine Levratto ()
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Marc Brunetto: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Nadine Levratto: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: The purpose of this research is to study the role of spatial agglomeration economies as drivers of firm exit in France over the period 2009–2013 by focusing on two regional variables (local financial development and local specialization). The spatial autocorrelation detected in the data leads us to apply spatial econometric techniques (Spatial Dynamic Panel models and spatial GMM) that permit us to control the estimation of spatial spillover effects. Our results show that firm exit is significantly influenced by positive spatial autocorrelation. Therefore, locations with high exit rates tend to be surrounded by similar ones. However, this phenomenon differs according to the period. In addition, we find that greater local financial development reduces the exit rate in a department, whereas local specialization seems not to exert any effect.

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Date: 2019
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Published in Annals of Regional Science, 2019, 62, pp.99-116. ⟨10.1007/s00168-018-0887-0⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01943083

DOI: 10.1007/s00168-018-0887-0

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