Pub Date : 2025-05-29DOI: 10.1016/j.pirs.2025.100103
Roberta Capello, Simona Ciappei, Camilla Lenzi
Rapid technological progress, primarily in the fields of artificial intelligence and advanced automation, have relaunched the debate regarding their impact on employment, highlighting vast heterogeneity across occupational groups, with the least skilled and least educated workers proving to be the most vulnerable to substitution effects. This paper re-examines this statement by conceptually and empirically distinguishing digitalisation from platformisation, depending on their use of digital tools for the organisation of market transactions, and shows their positive, though highly selective, effects for specific occupational groups. Based on an empirical analysis of Italian NUTS3 regions in the period 2018–2023, the paper highlights the role of platforms for the creation of gig jobs, as much as the importance of advanced digitalisation for the creation of creative ones, highlighting an undesirable downgrading of jobs and an enduring polarisation trend in labour markets, which calls for mitigating policies accompanying the diffusion of digitalisation and platformisation in the upcoming years.
{"title":"Digitalisation, platformisation and the transformations of local labour markets","authors":"Roberta Capello, Simona Ciappei, Camilla Lenzi","doi":"10.1016/j.pirs.2025.100103","DOIUrl":"10.1016/j.pirs.2025.100103","url":null,"abstract":"<div><div>Rapid technological progress, primarily in the fields of artificial intelligence and advanced automation, have relaunched the debate regarding their impact on employment, highlighting vast heterogeneity across occupational groups, with the least skilled and least educated workers proving to be the most vulnerable to substitution effects. This paper re-examines this statement by conceptually and empirically distinguishing digitalisation from platformisation, depending on their use of digital tools for the organisation of market transactions, and shows their positive, though highly selective, effects for specific occupational groups. Based on an empirical analysis of Italian NUTS3 regions in the period 2018–2023, the paper highlights the role of platforms for the creation of gig jobs, as much as the importance of advanced digitalisation for the creation of creative ones, highlighting an undesirable downgrading of jobs and an enduring polarisation trend in labour markets, which calls for mitigating policies accompanying the diffusion of digitalisation and platformisation in the upcoming years.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 4","pages":"Article 100103"},"PeriodicalIF":2.4,"publicationDate":"2025-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144270276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-28DOI: 10.1016/j.pirs.2025.100102
Longfei Zheng
This paper establishes the linkage between place-based policies and growth from the perspective of regional innovation, using China as a case study. Leveraging extensive data on special economic zones (SEZs) and patent data, I examine the causal effects and underlying channels of SEZ introduction on regional innovation outcome. Through a set of difference-in-differences estimations at the county level, the empirical findings demonstrate that central and local SEZs play contrasting roles in innovation. Specifically, the establishment of national-level zones significantly increases regional innovation outcome through the positive channels of improved transportation accessibility and increased start-up activities. However, the introduction of provincial-level zones has a negative impact on regional innovation outcome through the negative channel of the rising fiscal pressure of local government. Furthermore, the empirical results confirm that the SEZ effects vary with local development level and zone characteristics. These findings contribute significantly to the development of a context-tailored place-based policy toolbox.
{"title":"Place-based policies and innovation: The contrasting roles of central and local special economic zones","authors":"Longfei Zheng","doi":"10.1016/j.pirs.2025.100102","DOIUrl":"10.1016/j.pirs.2025.100102","url":null,"abstract":"<div><div>This paper establishes the linkage between place-based policies and growth from the perspective of regional innovation, using China as a case study. Leveraging extensive data on special economic zones (SEZs) and patent data, I examine the causal effects and underlying channels of SEZ introduction on regional innovation outcome. Through a set of difference-in-differences estimations at the county level, the empirical findings demonstrate that central and local SEZs play contrasting roles in innovation. Specifically, the establishment of national-level zones significantly increases regional innovation outcome through the positive channels of improved transportation accessibility and increased start-up activities. However, the introduction of provincial-level zones has a negative impact on regional innovation outcome through the negative channel of the rising fiscal pressure of local government. Furthermore, the empirical results confirm that the SEZ effects vary with local development level and zone characteristics. These findings contribute significantly to the development of a context-tailored place-based policy toolbox.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 4","pages":"Article 100102"},"PeriodicalIF":2.4,"publicationDate":"2025-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144263217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-16DOI: 10.1016/j.pirs.2025.100101
Marc Cowling , Ross Brown , Weixi Liu , Huan Yang
Understanding how small firms adapt and adjust financially following exogenous shocks is crucial and acts as a harbinger of regional financial resilience levels. Therefore, it is important to determine what shape firms are in as they emerge from a shock such as the Covid-19 pandemic, particularly with regard to their ability to finance new growth enhancing activities. Yet not all firms are ready to invest in future growth and simply need an injection of working capital while others need recourse to refinancing existing debts. To flesh out the concept of regional financial resilience, this paper examines how SMEs across different multi-scaler geographies (i.e. regions, sub-regions and districts) of the UK have been raising new loans to finance growth, working capital and/or simply refinancing their existing debt. Using a rich loan dataset for the UK covering 2021–2024 we find stark spatial variations in the proportion of firms reporting growth as the key mechanism for using the loans and these are strongest at the most disaggregate unit of spatial analysis examined (i.e. districts). Our findings suggest the future development of the UK economy is likely to display a very uneven spatial pattern with some areas investing heavily in growth, while for others, addressing cash flow problems or issues associated with existing debts are paramount. In response to the pandemic, small firms are exhibiting a complex spatial patchwork of regional financial resilience across the UK’s deeply variegated space economy.
{"title":"Growth, working capital and refinancing: The geography of post-pandemic regional financial resilience in UK SMEs","authors":"Marc Cowling , Ross Brown , Weixi Liu , Huan Yang","doi":"10.1016/j.pirs.2025.100101","DOIUrl":"10.1016/j.pirs.2025.100101","url":null,"abstract":"<div><div>Understanding how small firms adapt and adjust financially following exogenous shocks is crucial and acts as a harbinger of regional financial resilience levels. Therefore, it is important to determine what shape firms are in as they emerge from a shock such as the Covid-19 pandemic, particularly with regard to their ability to finance new growth enhancing activities. Yet not all firms are ready to invest in future growth and simply need an injection of working capital while others need recourse to refinancing existing debts. To flesh out the concept of regional financial resilience, this paper examines how SMEs across different multi-scaler geographies (i.e. regions, sub-regions and districts) of the UK have been raising new loans to finance growth, working capital and/or simply refinancing their existing debt. Using a rich loan dataset for the UK covering 2021–2024 we find stark spatial variations in the proportion of firms reporting growth as the key mechanism for using the loans and these are strongest at the most disaggregate unit of spatial analysis examined (i.e. districts). Our findings suggest the future development of the UK economy is likely to display a very uneven spatial pattern with some areas investing heavily in growth, while for others, addressing cash flow problems or issues associated with existing debts are paramount. In response to the pandemic, small firms are exhibiting a complex spatial patchwork of regional financial resilience across the UK’s deeply variegated space economy.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 4","pages":"Article 100101"},"PeriodicalIF":2.4,"publicationDate":"2025-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144212195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-30DOI: 10.1016/j.pirs.2025.100098
P. Caro , A. Checcaglini , J.-P. Guironnet
What influence do the past and present locations of young workers have on their professional careers? To answer this question, Céreq's Génération 2010 survey was used to examine the impact of Employment Zone (EZ) characteristics on wages, particularly through interviews conducted three and seven years after these individuals left the school system. An estimate based on a multi-level model confirms that individual characteristics largely determine the level of pay. However, the characteristics of the EZ also significantly influence pay trends, with the effect of the area being much greater for mobile individuals. In addition, individuals’ career paths within territories leave a lasting impact on their salary progression: the characteristics of the EZ in which they resided in 2013 still exert influence on their salaries in 2017. The proposed analysis also reveals distinct effects based on qualifications and mobility. Territorial inequalities are more pronounced for less mobile graduates, whereas the most mobile graduates can leverage these differences to maximise the returns on their education. However, using data spanning 7 years, it becomes evident that this effect diminishes with repeated territorial mobility. The uniqueness of this article is further underscored by the presentation of results through the cartographic transposition of econometric findings.
{"title":"The impact of territories on the salaries of young individuals","authors":"P. Caro , A. Checcaglini , J.-P. Guironnet","doi":"10.1016/j.pirs.2025.100098","DOIUrl":"10.1016/j.pirs.2025.100098","url":null,"abstract":"<div><div>What influence do the past and present locations of young workers have on their professional careers? To answer this question, Céreq's Génération 2010 survey was used to examine the impact of Employment Zone (EZ) characteristics on wages, particularly through interviews conducted three and seven years after these individuals left the school system. An estimate based on a multi-level model confirms that individual characteristics largely determine the level of pay. However, the characteristics of the EZ also significantly influence pay trends, with the effect of the area being much greater for mobile individuals. In addition, individuals’ career paths within territories leave a lasting impact on their salary progression: the characteristics of the EZ in which they resided in 2013 still exert influence on their salaries in 2017. The proposed analysis also reveals distinct effects based on qualifications and mobility. Territorial inequalities are more pronounced for less mobile graduates, whereas the most mobile graduates can leverage these differences to maximise the returns on their education. However, using data spanning 7 years, it becomes evident that this effect diminishes with repeated territorial mobility. The uniqueness of this article is further underscored by the presentation of results through the cartographic transposition of econometric findings.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100098"},"PeriodicalIF":2.4,"publicationDate":"2025-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143934831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study investigates the role of savings as a channel for the second demographic dividend in minimum comparable areas (MCA) in Brazil between 2000 and 2010. Using spatial econometric models, the research analyzed the effects of per capita savings, education, and labor force participation on income growth. The results reveal that, in addition to the first demographic dividend – evidenced by the contribution of working-age population relative to the total population to economic growth – the second dividend, driven by savings and education, has a significant impact on regional economic growth. Savings, treated as an endogenous variable, proved to be crucial in mitigating the effects of population aging and promoting sustainable development. The study also highlights the importance of local spatial interactions between MCAs, suggesting that public policies aimed at promoting savings, human capital formation, and productive inclusion are essential to maximize the benefits of demographic dividends. These findings provide valuable insights for policymakers seeking to reduce regional disparities in Brazil.
{"title":"Brazilian demographic dividend: A spatial analysis of the role of savings","authors":"Marianne Zwilling Stampe , Gabrielito Rauter Menezes , Fernando Pozzobon , Eduardo Grando Sirtoli","doi":"10.1016/j.pirs.2025.100097","DOIUrl":"10.1016/j.pirs.2025.100097","url":null,"abstract":"<div><div>This study investigates the role of savings as a channel for the second demographic dividend in minimum comparable areas (MCA) in Brazil between 2000 and 2010. Using spatial econometric models, the research analyzed the effects of per capita savings, education, and labor force participation on income growth. The results reveal that, in addition to the first demographic dividend – evidenced by the contribution of working-age population relative to the total population to economic growth – the second dividend, driven by savings and education, has a significant impact on regional economic growth. Savings, treated as an endogenous variable, proved to be crucial in mitigating the effects of population aging and promoting sustainable development. The study also highlights the importance of local spatial interactions between MCAs, suggesting that public policies aimed at promoting savings, human capital formation, and productive inclusion are essential to maximize the benefits of demographic dividends. These findings provide valuable insights for policymakers seeking to reduce regional disparities in Brazil.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100097"},"PeriodicalIF":2.4,"publicationDate":"2025-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144068201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-23DOI: 10.1016/j.pirs.2025.100096
Saverio Barabuffi , Jacopo Cricchio , Alberto Di Minin
This paper investigates the role of regional specialization in ICT in fostering AI patenting performance and inter-regional spatial spillovers across China’s provincial-level regions. Using panel fixed effects estimators, a Spatial Autoregressive Regression model and by adapting the technological frontier IV strategy on a comprehensive database covering 2006–2021, we find that positively selecting areas where regional ICT specialization is leveraged – the “picking the fittest” approach – can increase AI patenting performance while exacerbating regional disparities. Furthermore, we find that geographical proximity to developed AI regions impedes AI patenting progress in neighboring areas. The findings highlight the need for collaborative regional strategies and urge policy-makers to achieve a balance between strengthening regional specialization and promoting cooperation.
{"title":"The 'picking the fittest' approach and spatial dynamics in China’s artificial intelligence regional development","authors":"Saverio Barabuffi , Jacopo Cricchio , Alberto Di Minin","doi":"10.1016/j.pirs.2025.100096","DOIUrl":"10.1016/j.pirs.2025.100096","url":null,"abstract":"<div><div>This paper investigates the role of regional specialization in ICT in fostering AI patenting performance and inter-regional spatial spillovers across China’s provincial-level regions. Using panel fixed effects estimators, a Spatial Autoregressive Regression model and by adapting the technological frontier IV strategy on a comprehensive database covering 2006–2021, we find that positively selecting areas where regional ICT specialization is leveraged – the “picking the fittest” approach – can increase AI patenting performance while exacerbating regional disparities. Furthermore, we find that geographical proximity to developed AI regions impedes AI patenting progress in neighboring areas. The findings highlight the need for collaborative regional strategies and urge policy-makers to achieve a balance between strengthening regional specialization and promoting cooperation.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100096"},"PeriodicalIF":2.4,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143934839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-18DOI: 10.1016/j.pirs.2025.100095
Breandán Ó hUallacháin, Jacob Douma
Large firms generate most American inventions. We know that cities are host to organizations of varying size and prevalence, but are these conditions important to urban system dynamics? This article presents volatility in patenting as a novel instrument for distinguishing between cities reliant on many or few organizations. Volatility is the standard deviation of a city’s inter-annual patenting growth rate over a period. We attest an inverse-size hypothesis between volatility and metropolitan size -- as metropolitan size increases volatility decays. This hypothesis belongs to a family of urban scaling power laws, but our approach is distinctive in linking invention volatility, city size, and the organization of technological progress. A focus on volatility facilitates an unraveling of intertwined place attributes and organizational characteristic. Place attributes include the level of engagement in invention and the growth rate of patenting by resident inventors. Organizational characteristics pertain to patentee type with an emphasis on the proportion of grants in a city to corporate champions, individual inventors, universities, and Federal agencies. Results show that while place attributes are influential beyond the largest metropolitan areas, organizational characteristics are key to understanding volatility in big cities.
{"title":"Invention volatility and urban systems dynamics","authors":"Breandán Ó hUallacháin, Jacob Douma","doi":"10.1016/j.pirs.2025.100095","DOIUrl":"10.1016/j.pirs.2025.100095","url":null,"abstract":"<div><div>Large firms generate most American inventions. We know that cities are host to organizations of varying size and prevalence, but are these conditions important to urban system dynamics? This article presents volatility in patenting as a novel instrument for distinguishing between cities reliant on many or few organizations. Volatility is the standard deviation of a city’s inter-annual patenting growth rate over a period. We attest an inverse-size hypothesis between volatility and metropolitan size -- as metropolitan size increases volatility decays. This hypothesis belongs to a family of urban scaling power laws, but our approach is distinctive in linking invention volatility, city size, and the organization of technological progress. A focus on volatility facilitates an unraveling of intertwined place attributes and organizational characteristic. Place attributes include the level of engagement in invention and the growth rate of patenting by resident inventors. Organizational characteristics pertain to patentee type with an emphasis on the proportion of grants in a city to corporate champions, individual inventors, universities, and Federal agencies. Results show that while place attributes are influential beyond the largest metropolitan areas, organizational characteristics are key to understanding volatility in big cities.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100095"},"PeriodicalIF":2.4,"publicationDate":"2025-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143948605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-02DOI: 10.1016/j.pirs.2025.100094
Andrew G. Ross , Marko Raseta , Matthias Grajewski , Andreas Kleefeld
The global economy's interconnectedness and the potential for supply chain disruptions were highlighted recently during Russia's war of aggression against Ukraine and the COVID-19 pandemic. Similarly, a possible future conflict between China and Taiwan could lead to substantial disruptions in the availability of high-tech components and other goods produced by Taiwan that are widely used in manufacturing worldwide. It is necessary to understand and proactively address such potential supply chain vulnerabilities for critical goods and services. This paper applies a dynamic nonequilibrium model to identify the forward and backward dependencies of individual industrial, manufacturing, service, and energy sectors in a multi-regional context. The model tracks the macroeconomic variables of economies from their initial equilibrium state into a nonequilibrium stationary state, and quantifies their susceptibility, resilience, and recovery to shocks in the networked economic system. Through this analysis, the paper examines the impact of excluding Taiwan from global economic networks, revealing substantial impacts on major economies and sectors essential to the operating of the global economy. The approach presented and empirically tested enables policymakers and stakeholders to proactively use data-driven insights to anticipate future outcomes and reduce disruption risks.
{"title":"Resilience and recovery in networked economic systems: An ex-ante analysis of susceptibility to aspects of a potential China–Taiwan conflict","authors":"Andrew G. Ross , Marko Raseta , Matthias Grajewski , Andreas Kleefeld","doi":"10.1016/j.pirs.2025.100094","DOIUrl":"10.1016/j.pirs.2025.100094","url":null,"abstract":"<div><div>The global economy's interconnectedness and the potential for supply chain disruptions were highlighted recently during Russia's war of aggression against Ukraine and the COVID-19 pandemic. Similarly, a possible future conflict between China and Taiwan could lead to substantial disruptions in the availability of high-tech components and other goods produced by Taiwan that are widely used in manufacturing worldwide. It is necessary to understand and proactively address such potential supply chain vulnerabilities for critical goods and services. This paper applies a dynamic nonequilibrium model to identify the forward and backward dependencies of individual industrial, manufacturing, service, and energy sectors in a multi-regional context. The model tracks the macroeconomic variables of economies from their initial equilibrium state into a nonequilibrium stationary state, and quantifies their susceptibility, resilience, and recovery to shocks in the networked economic system. Through this analysis, the paper examines the impact of excluding Taiwan from global economic networks, revealing substantial impacts on major economies and sectors essential to the operating of the global economy. The approach presented and empirically tested enables policymakers and stakeholders to proactively use data-driven insights to anticipate future outcomes and reduce disruption risks.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100094"},"PeriodicalIF":2.4,"publicationDate":"2025-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143816444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-25DOI: 10.1016/j.pirs.2025.100093
Morakinyo O. Adetutu , Anthony J. Glass , Karligash Kenjegalieva , Kayode A. Odusanya
Bank market power has far-reaching effects as, among other things, it affects the price of credit. Even though it is well-known that banks are spatially interdependent due to rival banks having branches in the same geographical areas, the literature on bank market power overlooks this. To measure market power spillovers, we set out an approach to calculate spill-in and spill-out Lerner indices for firms and their products. To account for the marked consolidation over the sample, we use unbalanced panel data comprising over 45,000 observations for large commercial U.S. banks. From spatial stochastic frontier models, we obtain estimates of these indices (with and without adjustment for inefficiency spill-ins and spill-outs). We observe high spill-in Lerner indices for some banks, which is consistent with consolidation in the industry leading to concerns about bank market power. In line with larger agglomeration effects being conducive to higher spillovers, banks with high spillover Lerner indices tend to have branches in major cities.
{"title":"Product level market power spillovers among U.S. banks","authors":"Morakinyo O. Adetutu , Anthony J. Glass , Karligash Kenjegalieva , Kayode A. Odusanya","doi":"10.1016/j.pirs.2025.100093","DOIUrl":"10.1016/j.pirs.2025.100093","url":null,"abstract":"<div><div>Bank market power has far-reaching effects as, among other things, it affects the price of credit. Even though it is well-known that banks are spatially interdependent due to rival banks having branches in the same geographical areas, the literature on bank market power overlooks this. To measure market power spillovers, we set out an approach to calculate spill-in and spill-out Lerner indices for firms and their products. To account for the marked consolidation over the sample, we use unbalanced panel data comprising over 45,000 observations for large commercial U.S. banks. From spatial stochastic frontier models, we obtain estimates of these indices (with and without adjustment for inefficiency spill-ins and spill-outs). We observe high spill-in Lerner indices for some banks, which is consistent with consolidation in the industry leading to concerns about bank market power. In line with larger agglomeration effects being conducive to higher spillovers, banks with high spillover Lerner indices tend to have branches in major cities.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100093"},"PeriodicalIF":2.4,"publicationDate":"2025-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143822397","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-10DOI: 10.1016/j.pirs.2025.100089
Burcu Değerli Çifçi, Hasan Engin Duran
“Resilience” and “polycentricity” have surged as popular concepts over the recent decades, although the link between the two has not yet been investigated empirically. Identification of this relationship and its theoretical justification are politically crucial to shed light on prospective policies for urbanization and regionalization. Thus, the aim of this study is to investigate the impact of polycentricity/monocentricity on the regional resilience of Turkish (Nuts-2) regions against the global financial crisis in 2008/09. This paper also identifies the channels through which it can influence resilience. Through the application of a rich set of empirical tools, including computation of monocentricity degree, resistance, recovery, and adaptability indexes based on national and regional business cycle turning points, LOESS, RIDGE regressions, and inferential mediation tests, three main conclusions were obtained. First, polycentric regions were evidently more resistant to the crisis compared to monocentric morphologies; the later were more industrialized and open to trade, which made them more vulnerable to the crisis. Second, polycentric spatial structures were found to recover more quickly compared to monocentric regions. Third, monocentric regions clearly adapt better to long-term trajectories. In sum, the well-known strategy of the European Union rooted in “polycentric development” can still be valid for the purposes such as resisting to and recovering from economic disruptions. However, in the long-run, polycentrilization can hardly be seen as an optimal strategy, particularly in the context of adapting to the future trajectories.
{"title":"Polycentricity and regional economic resilience: A ridge regression approach","authors":"Burcu Değerli Çifçi, Hasan Engin Duran","doi":"10.1016/j.pirs.2025.100089","DOIUrl":"10.1016/j.pirs.2025.100089","url":null,"abstract":"<div><div>“Resilience” and “polycentricity” have surged as popular concepts over the recent decades, although the link between the two has not yet been investigated empirically. Identification of this relationship and its theoretical justification are politically crucial to shed light on prospective policies for urbanization and regionalization. Thus, the aim of this study is to investigate the impact of polycentricity/monocentricity on the regional resilience of Turkish (Nuts-2) regions against the global financial crisis in 2008/09. This paper also identifies the channels through which it can influence resilience. Through the application of a rich set of empirical tools, including computation of monocentricity degree, resistance, recovery, and adaptability indexes based on national and regional business cycle turning points, LOESS, RIDGE regressions, and inferential mediation tests, three main conclusions were obtained. First, polycentric regions were evidently more resistant to the crisis compared to monocentric morphologies; the later were more industrialized and open to trade, which made them more vulnerable to the crisis. Second, polycentric spatial structures were found to recover more quickly compared to monocentric regions. Third, monocentric regions clearly adapt better to long-term trajectories. In sum, the well-known strategy of the European Union rooted in “polycentric development” can still be valid for the purposes such as resisting to and recovering from economic disruptions. However, in the long-run, polycentrilization can hardly be seen as an optimal strategy, particularly in the context of adapting to the future trajectories.</div></div>","PeriodicalId":51458,"journal":{"name":"Papers in Regional Science","volume":"104 3","pages":"Article 100089"},"PeriodicalIF":2.4,"publicationDate":"2025-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143807493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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