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AGGLOMERATION ECONOMIES IN EUROPEAN REGIONS: PERSPECTIVES FOR OBJECTIVE 1 REGIONS

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ABSTRACT

Economic growth is one of the main European policy objectives of structural funds targeted at objective 1 regions. In an empirical analysis on growth differentials over 219 European regions between 2000 and 2010, we find that – controlled for other determinants – objective 1 regions grow in productivity due to higher degrees of specialisation, while other regions grow faster in employment, being embedded in a diverse economic environment. We argue that the type of agglomeration economies in combination with the structure of the economy is crucial for future long‐term development prospects of regions – and that especially the larger objective 1 regions should diversify their economy more to reap long‐term convergence prospects. This outcome favours a focus on place‐based development, as advocated recently by the European Union.
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Document Type: Research Article

Affiliations: 1: West University of Timisoara, 4 Parvan Bvd, 300223 Timisoara, Romania; and “Ioan Slavici” University of Timisoara, 144 Dr. A. Paunescu-Podeanu Street, 300587 Timisoara, Romania. 2: Department of Economic Geography, Faculty of Geosciences, Utrecht University, PO Box 80115, 3508 TC, Utrecht, the Netherlands. 3: PBL Netherlands Environmental Assesment Agency, PO Box 30314, 2500 GH The Hague, the Netherlands.

Publication date: 2011-09-01

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