Economic theory emphasizes that risk sharing makes it possible to exploit benefits from comparative advantages and economies of scale. An estimated regional-specific index of risk sharing is used as a covariate in a model of industrial specialization. Allowing for nonlinearities and spatial dependence, we show that industrial specialization is positively affected by risk-sharing measures even controlling for other relevant regressors.

Specialization and Risk Sharing in European Regions

BASILE, Roberto Giovanni;
2010

Abstract

Economic theory emphasizes that risk sharing makes it possible to exploit benefits from comparative advantages and economies of scale. An estimated regional-specific index of risk sharing is used as a covariate in a model of industrial specialization. Allowing for nonlinearities and spatial dependence, we show that industrial specialization is positively affected by risk-sharing measures even controlling for other relevant regressors.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11591/196468
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