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A Panel Co-Integration Analysis of Industrial and Services Sectors' Agglomeration in the European Union
Social Science Research Network
This study empirically investigates the relevance of Traditional Trade Theory, New Trade services sectors' agglomeration. Several non-stationarity and co-integration relationships can be detected. Further, decomposition of effects across and within sectors is provided. Scale economies are only important for across industries' variation in agglomeration, not within. For services sectors' agglomeration results show that intermediate goods intensity matters only for within and not acrossdoi:10.2139/ssrn.2188457 fatcat:2glojdnmnffntfglor76rqju3m