Trends and cycles in regional economic growth
AbstractUsing a novel dataset of regional GDP per worker from 1860 to 2009, this paper analyzes communalities in regional long-term growth trajectories for 24 Swedish regions. Wavelet Analysis and Principal Component Analysis are used to decompose regional growth trajectories and assess the extent that regional growth patterns share common trends and cyclical properties. The study found that regional growth trends show strong common features among groups of regions in Sweden. Natural-resource-rich regions benefited from the First Industrial Revolution. Contrary to regional development in many other European economies, a growth surge in Sweden later benefited virtually the whole country during the Second Industrial Revolution. The countrywide trend of growth slowed in the 1970s when the metropolitan regions became the main growth engines. In mid- and short-term cyclical movements, regions display more heterogeneous growth patterns, and we find evidence of mid-term, sequential lead–lag patterns in regional growth, especially between urban cores and the periphery.
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Bibliographic InfoArticle provided by Elsevier in its journal Explorations in Economic History.
Volume (Year): 48 (2011)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/inca/622830
Economic history; Economic geography; Regional growth; Wavelet analysis; Sweden;
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- José Aguilar-Retureta, 2014. "The GDP per capita of the Mexican regions (1895-1930): new estimates," Documentos de Trabajo (DT-AEHE) 1415, Asociación Española de Historia Económica.
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Lund Papers in Economic History, Department of Economic History, Lund University
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- Kerstin Enflo & Joan RamÃ³n RosÃ©s, 2012. "Coping with Regional Inequality in Sweden: Structural Change, Migrations and Policy, 1860-2000," Working Papers 0029, European Historical Economics Society (EHES).
- Kerstin Enflo & Joan R. RosÃ©s, 2012. "Coping with regional inequality in Sweden : structural change, migrations and policy, 1860-2000," Working Papers in Economic History wp12-09, Universidad Carlos III, Departamento de Historia EconÃ³mica e Instituciones.
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