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Thierry Mayer - One of the best experts on this subject based on the ideXlab platform.
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Gravity, Market Potential and development
Sciences Po publications, 2011Co-Authors: Keith Head, Thierry MayerAbstract:This article provides evidence on the long-term impact of Market Potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors' income of a country is related to its proximity to large Markets, referred to as ‘Market Potential’. The empirical part evaluates this Market Potential for all countries in the world with available trade data over the 1965–2003 period and relates it to income per capita. Overall results show that Market Potential is a powerful driver of increases in income per capita.
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Gravity, Market Potential and economic development
2011Co-Authors: Keith Head, Thierry MayerAbstract:This article provides evidence on the long-term impact of Market Potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors' income of a country is related to its proximity to large Markets, referred to as 'Market Potential'. The empirical part evaluates this Market Potential for all countries in the world with available trade data over the 1965-2003 period and relates it to income per capita. Overall results show that Market Potential is a powerful driver of increases in income per capita.
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Market Potential and Development
Sciences Po publications, 2008Co-Authors: Thierry MayerAbstract:This paper provides evidence on the long-term impact of Market Potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors' income of a country is related to its export capacity, labelled Market Access (MA) by Redding and Venables (2004), or Real Market Potential (RMP) by Head and Mayer (2004). The empirical part evaluates this Market Potential for all countries in the world with available trade data over the 1960-2003 period and relates it to income per capita. Overall results show that Market Potential is a powerful driver of increases in income per capita.
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Regional wage and employment responses to Market Potential in the EU
Regional Science and Urban Economics, 2006Co-Authors: Keith Head, Thierry MayerAbstract:In new economic geography models, the spatial distribution of demand is a key determinant of economic outcomes. In one strand, it is argued that higher demand gives rise to a more than proportionate increase in production, a result known as the home Market effect. Another strand emphasizes the effects of Market sizes on factor prices. We highlight the theoretical connection between these two strands. Using data on 57 European regions, we show how wages and employment respond to differentials in what we call real Market Potential, a discounted sum of demands derived from the theory.
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regional wage and employment responses to Market Potential in the eu
Bruges European Economic Research Papers, 2005Co-Authors: Keith Head, Thierry MayerAbstract:Recent theoretical work on economic geography emphasizes the interplay of transport costs and plant-level increasing returns. In these models, the spatial distribution of demand is a key determinant of economic outcomes. In one strand, it is argued that higher demand gives rise to a more than proportionate increase in production, a result known as the home Market effect. Another strand emphasizes the effects of Market sizes on factor prices. We highlight the theoretical connection between these two strands. Using data on 57 European regions, we show how wages and employment respond to differentials in what we call real Market Potential, a discounted sum of demands derived from the theory.
Rafael González-val - One of the best experts on this subject based on the ideXlab platform.
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Market Potential and city growth: Spain 1860–1960
Cliometrica, 2015Co-Authors: Rafael González-val, Daniel A. Tirado, Elisabet Viladecans-marsalAbstract:A few attempts have been made to analyse whether Market Potential might also have an impact on urban structures. In this paper we employ parametric and non-parametric techniques to analyse the effect of Market Potential on the growth of Spanish cities during the period 1860-1960. This period is especially interesting because it is characterized by the advance in the economic integration of the national Market together with an intense process of industrialization. Our results show a clear positive influence of Market Potential on city growth.
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Market Potential and regional economic growth in Spain (1860–1930)
European Review of Economic History, 2015Co-Authors: Julio Martinez-galarraga, Daniel A. Tirado, Rafael González-valAbstract:In this study, parametric and nonparametric techniques are employed to analyze the effect of changes in regional Market Potential on the growth of Spanish regions during the period 1860–1930. The study of Spain sheds light on whether the construction of new transport infrastructures coupled with changes in trade policy ultimately shaped regional growth trajectories. The study draws upon new evidence of per capita gross domestic product for Spanish provinces and combines this evidence with Harris' Market-Potential function to measure regional Market Potential. Results show that Market Potential had a positive influence on regional economic growth, particularly between 1900 and 1930.
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Market Potential and Regional Economic Growth in Spain, 1860-1930
2014Co-Authors: Julio Martinez-galarraga, Daniel A. Tirado-fabregat, Rafael González-valAbstract:In this paper we employ parametric and nonparametric techniques to analyse the effect of the changes registered on regional Market Potential on the growth of Spanish regions during the period 1860-1930. The study of the Spanish experience during these years conforms a case study that allows analyzing whether the construction of new transport infrastructure, as well as the changes in trade policy, that affected the relative Market Potential of the Spanish regions, ended up shaping regional growth trajectories. In order to carry out the analysis we make use of new evidence on regional inequality patterns in the long term based on recent estimations of per capita GDP for NUTS III Spanish regions (provinces) and an a la Harris measure of regional Market Potential that takes into account the economic distance between territories according to the changes registered in transport networks, the variations in the actual transport costs and the tariff policy followed over the period. Our results show a clear positive influence of Market Potential on regional economic growth, particularly along the years 1900-1930.
Keith Head - One of the best experts on this subject based on the ideXlab platform.
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Gravity, Market Potential and development
Sciences Po publications, 2011Co-Authors: Keith Head, Thierry MayerAbstract:This article provides evidence on the long-term impact of Market Potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors' income of a country is related to its proximity to large Markets, referred to as ‘Market Potential’. The empirical part evaluates this Market Potential for all countries in the world with available trade data over the 1965–2003 period and relates it to income per capita. Overall results show that Market Potential is a powerful driver of increases in income per capita.
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Gravity, Market Potential and economic development
2011Co-Authors: Keith Head, Thierry MayerAbstract:This article provides evidence on the long-term impact of Market Potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors' income of a country is related to its proximity to large Markets, referred to as 'Market Potential'. The empirical part evaluates this Market Potential for all countries in the world with available trade data over the 1965-2003 period and relates it to income per capita. Overall results show that Market Potential is a powerful driver of increases in income per capita.
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Regional wage and employment responses to Market Potential in the EU
Regional Science and Urban Economics, 2006Co-Authors: Keith Head, Thierry MayerAbstract:In new economic geography models, the spatial distribution of demand is a key determinant of economic outcomes. In one strand, it is argued that higher demand gives rise to a more than proportionate increase in production, a result known as the home Market effect. Another strand emphasizes the effects of Market sizes on factor prices. We highlight the theoretical connection between these two strands. Using data on 57 European regions, we show how wages and employment respond to differentials in what we call real Market Potential, a discounted sum of demands derived from the theory.
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regional wage and employment responses to Market Potential in the eu
Bruges European Economic Research Papers, 2005Co-Authors: Keith Head, Thierry MayerAbstract:Recent theoretical work on economic geography emphasizes the interplay of transport costs and plant-level increasing returns. In these models, the spatial distribution of demand is a key determinant of economic outcomes. In one strand, it is argued that higher demand gives rise to a more than proportionate increase in production, a result known as the home Market effect. Another strand emphasizes the effects of Market sizes on factor prices. We highlight the theoretical connection between these two strands. Using data on 57 European regions, we show how wages and employment respond to differentials in what we call real Market Potential, a discounted sum of demands derived from the theory.
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Market Potential and the location of japanese investment in the european union
The Review of Economics and Statistics, 2004Co-Authors: Keith Head, Thierry MayerAbstract:We investigate the hypothesis that firms prefer to locate ``where the Markets are." We use a theoretical model of location choice under imperfect competition to formalise this concept. The model yields an equilibrium profit equation incorporating a term closely connected to the Market Potential index introduced by Harris in 1954. The location decision is a function of demand in all locations weighted by accessibility to consumers. We also show how the spatial distribution of competitors should be factored into the location choice. We then implement the model empirically, comparing our theoretically-derived measure of Market Potential with Harris' term and with ad hoc agglomeration variables. Our sample consists of firm-level location choices by Japanese firms between 1984 and 1995 and we use both the information on the choice of country and the choice of region inside each country in our analysis. Our results show that Market Potential does matter for location choice but that traditional agglomeration variables retain an important role in the location decision.
Daniel A. Tirado - One of the best experts on this subject based on the ideXlab platform.
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Market Potential and city growth: Spain 1860–1960
Cliometrica, 2015Co-Authors: Rafael González-val, Daniel A. Tirado, Elisabet Viladecans-marsalAbstract:A few attempts have been made to analyse whether Market Potential might also have an impact on urban structures. In this paper we employ parametric and non-parametric techniques to analyse the effect of Market Potential on the growth of Spanish cities during the period 1860-1960. This period is especially interesting because it is characterized by the advance in the economic integration of the national Market together with an intense process of industrialization. Our results show a clear positive influence of Market Potential on city growth.
-
Market Potential and regional economic growth in Spain (1860–1930)
European Review of Economic History, 2015Co-Authors: Julio Martinez-galarraga, Daniel A. Tirado, Rafael González-valAbstract:In this study, parametric and nonparametric techniques are employed to analyze the effect of changes in regional Market Potential on the growth of Spanish regions during the period 1860–1930. The study of Spain sheds light on whether the construction of new transport infrastructures coupled with changes in trade policy ultimately shaped regional growth trajectories. The study draws upon new evidence of per capita gross domestic product for Spanish provinces and combines this evidence with Harris' Market-Potential function to measure regional Market Potential. Results show that Market Potential had a positive influence on regional economic growth, particularly between 1900 and 1930.
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A test of the Market Potential equation in Spain
Applied Economics, 2009Co-Authors: Elisenda Paluzie, Jordi Pons, Daniel A. TiradoAbstract:In this article, we examine the relationship between regional wages in Spain and the Market Potential of these regions in the period 1955 to 1995. We demonstrate the existence of a spatial wage structure, in which wages fall with increasing distance from the highest income regions. This result strengthens the hypothesis that agglomerative forces were operating in Spain during the second half of the twentieth century.
Julio Martinez-galarraga - One of the best experts on this subject based on the ideXlab platform.
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Market Potential and regional economic growth in Spain (1860–1930)
European Review of Economic History, 2015Co-Authors: Julio Martinez-galarraga, Daniel A. Tirado, Rafael González-valAbstract:In this study, parametric and nonparametric techniques are employed to analyze the effect of changes in regional Market Potential on the growth of Spanish regions during the period 1860–1930. The study of Spain sheds light on whether the construction of new transport infrastructures coupled with changes in trade policy ultimately shaped regional growth trajectories. The study draws upon new evidence of per capita gross domestic product for Spanish provinces and combines this evidence with Harris' Market-Potential function to measure regional Market Potential. Results show that Market Potential had a positive influence on regional economic growth, particularly between 1900 and 1930.
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Market Potential and Regional Economic Growth in Spain, 1860-1930
2014Co-Authors: Julio Martinez-galarraga, Daniel A. Tirado-fabregat, Rafael González-valAbstract:In this paper we employ parametric and nonparametric techniques to analyse the effect of the changes registered on regional Market Potential on the growth of Spanish regions during the period 1860-1930. The study of the Spanish experience during these years conforms a case study that allows analyzing whether the construction of new transport infrastructure, as well as the changes in trade policy, that affected the relative Market Potential of the Spanish regions, ended up shaping regional growth trajectories. In order to carry out the analysis we make use of new evidence on regional inequality patterns in the long term based on recent estimations of per capita GDP for NUTS III Spanish regions (provinces) and an a la Harris measure of regional Market Potential that takes into account the economic distance between territories according to the changes registered in transport networks, the variations in the actual transport costs and the tariff policy followed over the period. Our results show a clear positive influence of Market Potential on regional economic growth, particularly along the years 1900-1930.
