@techreport{7c1777a62cb34513aac4569a0ead3089,
title = "Causal relations between knowledge-intensive business services and regional employment growth",
abstract = "This paper studies the causal relations between regional employment growth in Knowledge-Intensive Business Services (KIBS) and overall regional employment growth using German labour-market data for the period 1999-2012. Adopting a recently developed technique, we are able to estimate a structural vector autoregressive model in which the causal directions between KIBS and other sectors are examined including various time lags. One main finding holds that although regional growth has a negative short-term effect on KIBS, KIBS growth has a long-term positive effect on the whole regional economy. This result confirms the claim that KIBS can play a key role in regional policies. Distinguishing between financial and non-financial KIBS, we find that financial KIBS have a procyclical effect on regional growth underlining the potential de-stabilizing effect of a large financial sector.",
author = "T. Brenner and M. Capasso and M. Duschl and K. Frenken and T.G. Treibich",
note = "data source: Institute for Employment Research (IAB) in Germany, confidential data",
year = "2015",
month = jan,
day = "1",
doi = "10.26481/umagsb.2015029",
language = "English",
series = "GSBE Research Memoranda",
publisher = "Maastricht University, Graduate School of Business and Economics",
number = "029",
address = "Netherlands",
type = "WorkingPaper",
institution = "Maastricht University, Graduate School of Business and Economics",
}