This paper examines the extent to which sectoral diversification can act as an insurance mechanism against fluctuations in regional gross value added growth rates. I apply portfolio theory to the growth-instability properties of German districts. Furthermore, I define a comprehensive...

Following Hausmann et al. (2011), we apply a network approach to measure the level of economic complexity and diversification opportunities of Russian regions. Using Russian and international export data, we find that the complexity of Russian regional economies varies substantially: rela-tively...

We study the effects of different types of technological diversification on the performance of regional economies. We focus on the relatedness and unconventionality of technological capabilities as drivers of GDP and employment growth. Using economic indicators from Eurostat regional statistics...

Several theoretical approaches to explaining economic growth focus on externalities arising from interactions between economic agents. A frequently discussed source of such externalities is regional diversity of the industry structure. A large number of empirical studies support the argument...

Developing activities in areas other than finance would help to sustain growth and deal with the declining potential output and trend productivity growth that Luxembourg's economy is facing. Given the relatively high labour costs, Luxembourg's future comparative advantages are likely to lie in...

Developing activities in areas other than finance would help to sustain growth and deal with the declining potential output and trend productivity growth that Luxembourg’s economy is facing. Given the relatively high labour costs, Luxembourg’s future comparative advantages are likely to lie...

To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...