@article{Ozyurt_Dees_2018, place={Vienna, Austria}, title={Regional dynamics of economic performance in the EU: To what extent do spatial spillovers matter?}, volume={5}, url={https://openjournals.wu-wien.ac.at/ojs/index.php/region/article/view/155}, DOI={10.18335/region.v5i3.155}, abstractNote={<p>This paper investigates the main determinants of economic perfor-<br />mance in the EU from a regional perspective, covering 253 regions over<br />the period 2001-2008. In addition to the traditional determinants of eco-<br />nomic performance, measured by GDP per capita, the analysis accounts<br />for spatial e¤ects related to externalities from neighbouring regions. The<br />spatial Durbin random-e¤ect panel speci…cation captures spatial feedback<br />e¤ects from the neighbours through spatially lagged dependent and inde-<br />pendent variables. Social-economic environment and traditional determi-<br />nants of GDP per capita (distance from innovation frontier, physical and<br />human capital and innovation) are found to be signi…cant. Overall, our<br />…ndings con…rm the signi…cance of spatial spillovers, as business invest-<br />ment and human capital of neighbouring regions have a positive impact<br />both direct and indirect on economic performance of a given region.</p>}, number={3}, journal={REGION}, author={Ozyurt, Selin and Dees, Stéphane}, year={2018}, month={Dec.}, pages={75–96} }