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Convergence across Spanish Regions: New Evidence on the Effects of Public Investment

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Author Info

  • Gonzalez-Paramo, Jose Manuel

    (U Complutense de Madrid and Bank of Spain)

  • Martinez, Diego

    (U Jaen and Fundacion Centro de Estudios Andaluces)

Abstract

We examine the empirical relationship between public investment and per capita income growth in the Spanish regions over 1965-1997. Using a neoclassical growth model with public and human capital, a convergence equation is derived and estimated using panel data techniques. Besides providing evidence of conditional convergence, the results show a non-positive effect of productive-public investment on the rate of regional economic growth. The impact of public investment in education and health is not clear. Robustness checks addressing potential endogeneity and specification problems reaffirm our results. It is concluded that there are no simple recipes for effective regional investment policies.

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File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/66/17
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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): 2 ()
Pages: 184-205

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Handle: RePEc:rre:publsh:v:33:y:2003:i:2:p:184-205

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

Related research

Keywords: Education; Human Capital; Regional; Regions;

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Cited by:
  1. Norman Baldwin & Stephen Borrelli, 2008. "Education and economic growth in the United States: cross-national applications for an intra-national path analysis," Policy Sciences, Springer, vol. 41(3), pages 183-204, September.
  2. Santiago Lago-Peñas & Diego Martínez López, 2005. "Convergence and public investment: Regional policies revisited," Economic Working Papers at Centro de Estudios Andaluces E2005/05, Centro de Estudios Andaluces.

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