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Erschienen in: The Annals of Regional Science 3/2022

30.01.2022 | Original Paper

Labour productivity and regional labour markets resilience in Europe

verfasst von: Elias Giannakis, Theofanis P. Mamuneas

Erschienen in: The Annals of Regional Science | Ausgabe 3/2022

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Abstract

This paper conceptualizes and empirically explores the resilience of European Union regional labour markets in terms of labour productivity growth. We assess the effect of pre-crisis region-specific factors on regional labour markets resilience controlling for the effect of exogenous technological change and substitution between capital and labour. Regional input–output models are developed to estimate supplies and sales linkages across the European Union NUTS-2 regional economies. Spatial Durbin Error Model estimates suggest that regional labour markets characterised by a higher level of economic pull capabilities of the Construction sector and a higher level of industrial concentration can better withstand the effects of the negative shock and recover faster. Place-based policies building on regions’ competitive strengths can smooth out the negative effect of the economic shock and accelerate the recovery of regional labour markets, while policy interventions promoting capital investment can further enhance labour productivity in European Union regions.

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Fußnoten
1
Our framework can be defined for any general production function. For simplicity, we use here the Cobb–Douglas function.
 
2
We re-estimated the model by dropping the explanatory variables with correlation coefficients greater than 0.60 (Table C1) and the results remained the same. In addition, we estimated the effect of the aggregated industrial interconnectedness (weighted by the output sectoral shares) on regional labour markets resilience. The estimated parameter for the aggregated interconnectedness was not statistically significant but the rest of the parameters remained similar.
 
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Metadaten
Titel
Labour productivity and regional labour markets resilience in Europe
verfasst von
Elias Giannakis
Theofanis P. Mamuneas
Publikationsdatum
30.01.2022
Verlag
Springer Berlin Heidelberg
Erschienen in
The Annals of Regional Science / Ausgabe 3/2022
Print ISSN: 0570-1864
Elektronische ISSN: 1432-0592
DOI
https://doi.org/10.1007/s00168-021-01100-y

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