Regional Income Convergence in the Enlarged Europe, 1995-2000: A Spatial Econometric Perspective


Fischer, Manfred M. ; Stirböck, Claudia


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URL: http://ub-madoc.bib.uni-mannheim.de/623
URN: urn:nbn:de:bsz:180-madoc-6239
Document Type: Working paper
Year of publication: 2004
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: R11 O52 C21 R15 ,
Subject headings (SWD): Europa , Region , Kapitaleinkünfte
Abstract: This paper adopts a spatial econometric perspective to analyse regional convergence of per capita income in Europe in 1995 to 2000 and, moreover, relaxes the assumption of a single steady-state growth path which appears to be out of tune with reality of empirical dynamics. The two-club spatial error convergence model with groupwise heteroskedasticity is found to be most appropriate for the data at hand. Two empirical key findings are worthwhile to note. The first is that the data provide much support for unconditional ß-convergence in Europe. The second is that the usual convergence conclusions hold. But they do so for reasons that are not revealed by the classical test equation that is typical in mainstream economics literature.
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Fischer, Manfred M. ; Stirböck, Claudia (2004) Regional Income Convergence in the Enlarged Europe, 1995-2000: A Spatial Econometric Perspective. Open Access [Working paper]
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