The paper investigates the relationship between underground activities and financial deepening. We find a strong negative impact of the share of irregular employment on outstanding credit to the private sector. A shift of 1 per cent of employees from regular activities to irregular ones...

This study explores the worldwide spatial evolution of scientific knowledge production in biotechnology in the period 1986-2008. We employ new methodology that identifies new key topics in biotech on the basis of frequent use of title worlds in major biotech journals as an indication of new...

How do regions diversify over time? Inspired by recent studies, we argue that regions diversify into industries that make use of capabilities in which regions are specialized. As the spread of capabilities occurs through mechanisms that have a strong regional bias, we expect that capabilities...