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This paper contributes to the literature of regional economics by concerning the linkages between regional industrial structure and economic growth. In order to shed light on this debatable issue, we study the role of the high technology sector, especially its industrial structure in regional economic growth. Using data from the Finnish regions during 1994 to 2008, we find diminishing marginal returns to high technology diversity with respect to regional growth, once we control for other determinants of growth. Through this paper we hope to give our contribution to one of the central themes of current EU regional policy discussion, namely smart specialization.
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Simonen et al. (2015) studied this question.
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