Measuring Agglomeration Forces in a Financial Center

Article English OPEN
Patrice Pieretti; Arnaud Bourgain;
(2006)
  • Journal: volume 18,issue 3,pages1-9
  • Subject: Financial cluster | : Domaines particuliers de l'économie (santé, travail, transport…) [B16] [Sciences économiques & de gestion] | external economies | : Special economic topics (health, labor, transportation…) [B16] [Business & economic sciences] | Luxembourg financial center
    • jel: jel:L8 | jel:R1

Basing on Scitovsky's (1954) definition of external economies and applying the method of Caballero and Lyons (1990) to macro data of Luxembourg services industry, we find significant agglomeration forces between financial intermediaries (downstream industry) on the one ... View more
  • References (10)

    Basu S. and Fernald J.G. (1995), “Are apparent productive spillovers a figment of specification error?” Journal of Monetary Economics 36, 165-188.

    Basu S. and Fernald J.G. (2000), “Why is productivity procyclical? Why do we care?”, NBER Working paper n° 7940, October.

    Bartelsman E. J., Caballero R. and Lyons R. K. (1994), “Customer- and supplier- driven externalities”, American Economic Review 84, 1075-1084.

    Bruno M. (1978), Duality, intermediate inputs, and value added, in Fuss M. and Mc Fadden eds, Production economics: a dual approach to theory and practice, Vol 2 (North-Holland, Amsterdam)

    Caballero R.J. and Lyons R.K. (1990), “Internal versus external economies in european industry”, European Economic Review 34, 805-830.

    Caballero R.J. and Lyons R.K. (1992), “External effects in U.S. procyclical productivity”, Journal of Monetary Economics 29, 209-225.

    Mankiw G. (1989), “Real Business Cycles: A new Keynesian perspective”, Journal of Economic Perspectives, Vol. 3 (3), 79-90

    Midelfart-Knarvik K. H. and Steen F. (1999), "Self-reinforcing agglomerations? An empirical industry study", Scandinavian Journal of Economics, Vol. 101 (4), 515- 532.

    Rosenthal S. S. and Strange W. C. (2004), “Evidence on the nature and sources of agglomeration economies”, in: Handbook of Regional and Urban Economics, Vol. 4, ed. by Henderson J. V. and Thisse J. F., Elsevier.

    Scitovsky T. (1954), “Two concepts of external economies” Journal of Political Economy, 62,143-151.

  • Related Organizations (4)
  • Metrics
Share - Bookmark