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State and Local Policy, Factor Markets, and Regional Growth

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Author Info

  • Brown, Stephen P. A.

    (Federal Reserve Bank of Dallas)

  • Hayes, Kathy J.

    (Southern Methodist U)

  • Taylor, Lori L.

    (Federal Reserve Bank of Dallas)

Abstract

A large and growing literature has developed to explain how state and local policies affect factor markets, firm location, and economic growth; but it has emerged in three distinct threads. These threads have variously emphasized how policy and natural amenities affect regional economic growth, employment growth, or firm location; how variations in policy and natural amenities can lead to persistent wage differentials across regions; and how regional variation in factor inputs, including public capital, affects output. In this article, we expand the modeling framework of Roback and Gyourko and Tracy to integrate these threads into a single inquiry about how state and local policies--including the provision of public capital--affect factor markets and economic growth.

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File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/57/9
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Bibliographic Info

Article provided by Southern Regional Science Association in its journal Review of Regional Studies.

Volume (Year): 33 (2003)
Issue (Month): 1 ()
Pages: 40-60

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Handle: RePEc:rre:publsh:v:33:y:2003:i:1:p:40-60

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Web page: http://www.srsa.org

Related research

Keywords: Firm Location; Policy; Regional Growth; Regional; Regions;

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References

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  1. Eric A. Hanushek & Steven G. Rivkin & Lori L. Taylor, 1996. "Aggregation and the Estimated Effects of School Resources," NBER Working Papers 5548, National Bureau of Economic Research, Inc.
  2. Riddel, Mary & Schwer, R. Keith, 2003. "Regional Innovative Capacity with Endogenous Employment: Empirical Evidence from the U.S," The Review of Regional Studies, Southern Regional Science Association, vol. 33(1), pages 73-84.
  3. Catherine J. Morrison & Amy Ellen Schwartz, 1992. "State Infrastructure and Productive Performance," NBER Working Papers 3981, National Bureau of Economic Research, Inc.
  4. Grosskopf, Shawna & Hayes, Kathy J. & Taylor, Lori L. & Weber, William L., 2001. "On the Determinants of School District Efficiency: Competition and Monitoring," Journal of Urban Economics, Elsevier, vol. 49(3), pages 453-478, May.
  5. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
  6. Gunther, Jeffery W & Schmidt, Ronald H, 1993. "Increasing the Efficiency of Pooled Estimation with a Block-Diagonal Covariance Structure," The Annals of Regional Science, Springer, vol. 27(2), pages 133-42.
  7. Alicia H. Munnell, 1990. "How does public infrastructure affect regional economic performance?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 34, pages 69-112.
  8. John Fernald, 1997. "Roads to prosperity? assessing the link between public capital and productivity," International Finance Discussion Papers 592, Board of Governors of the Federal Reserve System (U.S.).
  9. Alfredo M. Pereira, 2001. "On the Effects of Public Investment on Private Investment: What Crowds in What?," Public Finance Review, , vol. 29(1), pages 3-25, January.
  10. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
  11. Beeson, Patricia E & Eberts, Randall W, 1989. "Identifying Productivity and Amenity Effects in Interurban Wage Differentials," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 443-52, August.
  12. Timothy J. Bartik, 2002. "The Effects of Environmental Regulation on Business Location in the United States," Book chapters authored by Upjohn Institute researchers, in: Wayne B. Gray (ed.), Economic Costs and Consequences of Environmental Regulation, pages 129-151 W.E. Upjohn Institute for Employment Research.
  13. Jaume Puig-Junoy, 2001. "Technical Inefficiency and Public Capital in U.S. States: A Stochastic Frontier Approach," Journal of Regional Science, Wiley Blackwell, vol. 41(1), pages 75-96.
  14. Wayne B. Gray, 1997. "Manufacturing Plant Location: Does State Pollution Regulation Matter?," NBER Working Papers 5880, National Bureau of Economic Research, Inc.
  15. Leslie E. Papke, 1991. "Interstate Business Tax Differentials and New Firm Location: Evidence from Panel Data," NBER Working Papers 3184, National Bureau of Economic Research, Inc.
  16. Carlton, Dennis W, 1983. "The Location and Employment Choices of New Firms: An Econometric Model with Discrete and Continuous Endogenous Variables," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 440-49, August.
  17. Gyourko, Joseph & Tracy, Joseph, 1989. "The Importance of Local Fiscal Conditions in Analyzing Local Labor Markets," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1208-31, October.
  18. Bartik, Timothy J, 1985. "Business Location Decisions in the United States: Estimates of the Effects of Unionization, Taxes, and Other Characteristics of States," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(1), pages 14-22, January.
  19. Haughwout, Andrew F., 1998. "Aggregate Production Functions, Interregional Equilibrium, and the Measurement of Infrastructure Productivity," Journal of Urban Economics, Elsevier, vol. 44(2), pages 216-227, September.
  20. Neumann, George R & Topel, Robert H, 1991. "Employment Risk, Diversification, and Unemployment," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1341-65, November.
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Citations

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Cited by:
  1. Decker, Christopher S. & Thompson, Eric C. & Wohar, Mark E., 2009. "Determinants of State Labor Productivity: The Changing Role of Density," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 39(1).
  2. McDonald, Bruce D. & Miller, D. Ryan, 2010. "Welfare programs and the state economy," Journal of Policy Modeling, Elsevier, vol. 32(6), pages 719-732, November.
  3. McPhail, Joseph E. & Orazem, Peter & Singh, Rajesh, 2010. "The Poverty of States: Do State Tax Policies Affect State Labor Productivity?," Staff General Research Papers 31552, Iowa State University, Department of Economics.
  4. Partridge, Mark D. & Rickman, Dan S., 2012. "Integrating regional economic development analysis and land use economics," MPRA Paper 38291, University Library of Munich, Germany.
  5. Thompson, Eric C., 2007. "Measuring the Impact of Tourism on Rural Development: An Econometric Approach," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 37(2).
  6. Eric Thompson & George Hammond & Stephan Weiler, 2006. "Amenities, local conditions and fiscal determinants of factor growth in rural America," Research Working Paper RWP 06-08, Federal Reserve Bank of Kansas City.

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