Variable / GDP
(FIXED EFFECTS) / Manufacturing Exports
(FIXED EFFECTS) / Non oil exports
FIXED EFFECT RANDOM EFFECTS / Employment
CROSS-SECTION
Constant / -26.42
(-4.21)*** / -4.379
(-2.04)** / -1.340
(-2.61)*
Capital Stock
(private fixed capital) / 11.403
(3.31)*** / 0.030
(0.10)
Public libraries per inhabitant
(cultural/natural capital) / 0.395
(1.12) / 5.133
(1.32) / -0.598
(-0.57)
Average length of stay (natural/ cultural capital) / 2.03
(0.87) / 0.716
(1.62)*
Road infrastructure Index
(social overhead capital) / -0.006
(-0.64)
Airport Infrastructure Index (social overhead capital) / 0.003
(1.92)**
Inward FDI (entrepreneurial relational capital) / 0.000
(0.11)
Outward FDI (entrepreneurial relational capital) / -0.000
(-0.13)
Specialization Index
(local cognitive capital) / 0.168
(0.06) / 13.063
(0.42) / 21.708
(6.35)***
Agglomeration Index
(local cognitive capital) / 3.176
(3.94)*** / 0.744
(3.67)***
Graduates per capita
(human capital) / 1.338
(8.31)*** / 2.205
(1.26) / 1.882
82.66)*** / 2.60
(5.87)*** / 1.534
(5.47)*** / 0.119
(1.40)
Social Cooperatives
(institutional relational capital) / 1.689
(2.28)** / 0.242
(1.20)
Initial GDP growth rate
Initial manuf export growth rate
Initialnon-oil export growth rate
Initial unemployment growth rate
.
N / -0.095
(-0.85)
206 / -0.554
(-2.57)***
206 / -0.333
(-2.65)*** / -0.485
(-5.43)***
206 / -0.190
(-2.71)*** / 0.026
(0.33)
103
R2 / 0.85 / 0.58 / 0.66 / 0.20
AK / 3.64 / 8.52 / 6.58 / 2.80
H / 162.86*** / 9.10* / 58.43***

Table A1: The effect of previous trends on the economic performance

Variable / Employment
SAR / SEM
Capital Stock
(private fixed capital) / 5.686
(2.15)** / 5.600
(2.12)**
Public libraries per inhabitant
(cultural/natural capital) / 0.160
(0.55) / 0.173
(0.60)
Road infrastructure Index
(social overhead capital) / -0.001
(-0.11) / -0.001
(-0.18)
Airport Infrastructure Index (social overhead capital) / -0.001
(-0.99) / -0.001
(-1.05)
Inward FDI (entrepreneurial relational capital) / 0.015
(2.05)** / 0.015
(2.00)**
Outward FDI (entrepreneurial relational capital) / -0.001
(-2.08)** / -0.001
(-2.05)
Specialization Index
(local cognitive capital) / 0.235
(0.10) / 0.299
(0.13)
Agglomeration Index
(local cognitive capital) / 1.696
(2.53)*** / 1.801
(2.73)***
Graduates per capita
(human capital) / 0.641
(4.27)*** / 0.670
(5.29)***
Social Cooperatives
(institutional relational capital) / -0.025
(-0.45) / -0.028
(-0.52)
Crimes
(Social capital)
W*Employment Growth rate
Rho
. / 0.277
(0.49)
0.047
(0.45) / 0.246
(0.44)
-0.081
(-0.68)

Tab A2. -Spatial effects of territorial capital on Employmentt ( 2004-2013)

Tab A3: The effects of GDP and Exports on selected explanatory variables

Road Infrastructures / Inward FDI
Fixed Effects / Random Effects / Fixed Effects / Random Effects
Constant / 105.46
(20.89) / 50.30
(1.20)
Gross Domestic Product / -0.0003
(0.967) / -0.00002
(-0.123) / 0.0013
(0.771) / 0.0008
(0.583)
Hausman / 1.69 / 0.25
Road Infrastructures / Inward FDI
Fixed Effects / Random Effects / Fixed Effects / Random Effects
Constant / 104.45 / 41.80
(1.05)
Manufacturing Exports / 0.0000
(0.768) / 0.0000
(0.404) / 0.0000
(1.6)* / 0.0000
(1.6)*
Hausman / 0.51 / 0.13

Tab. A4 - Territorial Capital components*

(adapted from Camagni’staxonomy, 2008)

Materiality
Rivalry / Tangibles / Intermediate / Intangibles
High / Fixed private capital
  • Total capital stock
  • Ipaddresses
/ Entrepreneurial-
relational capital
  • Outward FDI
  • InwardFDI
  • Share of Professionals
  • Firms’ networks
  • Visitors in tradefairs
/ Human Capital
  • Graduates
  • Years of schooling
  • Skilledworkforce
  • Number of entrepreneurs
  • Patents

Medium / Cultural/
natural capital
  • Public libraries
  • Tourists’ length of stay in hotels
  • Bed places
  • Touristarrivals
/ Public-Private
Capital
  • Investments in Project Financing
/ Institutional-
relational capital
  • Social cooperatives
  • Civic associations

Low / Social overhead capital
  • Infrastructures (road and airport)
  • Accessibility index
  • Multimodalaccessibility
/ Local cognitive
Capital
  • Specialization
  • Density of production
  • Populationdensity
  • Share of population in largermunicipalities
/ Social Capital
  • Crimes
  • Trust
  • Vote participation
  • Femaleunemployment

* Mostly used proxies for each dimension of territorial capital in the literature - in bold those used in the paper (see section 3.2)