Volatility in European Regions
Davide Fiaschi (),
Lisa Gianmoena and
Angela Parenti ()
Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy
is paper examines the growth rate volatility of per capita GDP of European regions in 1992-2008. We measure the regional volatility using a new methodology based onMarkov matrices and we investigate its main determinants. Volatility displays a geographical pattern and a significant spatial dependence. Output composition appears one of the main driver of volatility; among the other determinants we find a negative impact of the size of regional economies and of the flexibility of labour market, and a positive impact of the sectoral concentration, of the financialization of economy, and of the participation to EMU.
Keywords: Markov Matrix; Asymmetric Fluctuations; Output Com-position; Size Effect; Spatial Dependence. (search for similar items in EconPapers)
JEL-codes: C20 E32 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-mac, nep-ore and nep-ure
Note: ISSN 2039-1854
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Journal Article: Volatility in European regions (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pie:dsedps:2015/201
Access Statistics for this paper
More papers in Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy Contact information at EDIRC.
Bibliographic data for series maintained by ().