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On the Sources of Convergence: A Close Look at the Spanish Regions

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  • de la Fuente, Angel

Abstract

We investigate the sources of productivity convergence using panel data for the Spanish regions. As a framwork, we develop a simple descriptive growth model which allows for factor accumulation, technological diffusion and rate effects from human capital and which includes fixed regional effects to allow for unobserved factors. Our results indicate that technological catch-up, the equalization of education levels and the redistribution of employment across regions, accounts for most of the observed reduction in regional disparities. We also find that, even after controlling for factor stocks and flows and technological diffusion, there remains very significant cross-regional differences in estimated total factor productivity levels, which point to the omission of important variables and to the need for a more disaggregated analysis. Lastly, we provide some preliminary evidence on the importance of sectoral factors in explaining the evolution of the regional income distribution.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1543.

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Date of creation: Dec 1996
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Handle: RePEc:cpr:ceprdp:1543

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Keywords: Catch-Up; Growth; Regional Convergence;

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  1. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 106(437), pages 1019-36, July.
  2. Xavier Sala-i-Martin, 1994. "Regional cohesion: Evidence and theories of regional growth and convergence," Economics Working Papers 104, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Marimon, Ramon & Zilibotti, Fabrizio, 1996. "'Actual' versus 'Virtual' Employment in Europe: Is Spain Different?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1427, C.E.P.R. Discussion Papers.
  4. Danny Quah, 1995. "Convergence Empirics across Economies with (Some) Capital Mobility," CEP Discussion Papers dp0257, Centre for Economic Performance, LSE.
  5. Paul M. Romer, 1987. "Crazy Explanations for the Productivity Slowdown," NBER Chapters, in: NBER Macroeconomics Annual 1987, Volume 2, pages 163-210 National Bureau of Economic Research, Inc.
  6. Canova, Fabio & Marcet, Albert, 1995. "The Poor Stay Poor: Non-Convergence Across Countries and Regions," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1265, C.E.P.R. Discussion Papers.
  7. Garcia-Mila, Teresa & McGuire, Therese J., 1993. "Industrial mix as a factor in the growth and variability of states' economies," Regional Science and Urban Economics, Elsevier, vol. 23(6), pages 731-748, December.
  8. Edward C. Prescott, 1997. "Needed: a theory of total factor productivity," Staff Report, Federal Reserve Bank of Minneapolis 242, Federal Reserve Bank of Minneapolis.
  9. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(4), pages 1127-70, November.
  10. de la Fuente, Angel, 1995. "The Empirics of Growth and Convergence: A Selective Review," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1275, C.E.P.R. Discussion Papers.
  11. Carlino, Gerald A. & Voith, Richard, 1992. "Accounting for differences in aggregate state productivity," Regional Science and Urban Economics, Elsevier, vol. 22(4), pages 597-617, November.
  12. Serge Coulombe & Frank C. Lee, 1995. "Convergence across Canadian Provinces, 1961 to 1991," Canadian Journal of Economics, Canadian Economics Association, vol. 28(4a), pages 886-98, November.
  13. de la Fuente, Angel, 1995. "Catch-up, Growth and Convergence in the OECD," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1274, C.E.P.R. Discussion Papers.
  14. repec:fth:ottawa:9317e is not listed on IDEAS
  15. Quah, Danny, 1993. " Galton's Fallacy and Tests of the Convergence Hypothesis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 427-43, December.
  16. Quah, Danny, 1995. "Empirics for Economic Growth and Convergence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1140, C.E.P.R. Discussion Papers.
  17. N. Gregory Mankiw, 1995. "The Growth of Nations," Harvard Institute of Economic Research Working Papers 1732, Harvard - Institute of Economic Research.
  18. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(2), pages 223-51, April.
  19. Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 107-182.
  20. Barro, R.J. & Sala-i-Martin, X., 1991. "Regional Growth and Migration: a Japan - U.S. Comparaison," Papers, Yale - Economic Growth Center 650, Yale - Economic Growth Center.
  21. Shioji, Etsuro, 1996. "Regional Growth in Japan," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1425, C.E.P.R. Discussion Papers.
  22. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(2), pages 407-37, May.
  23. de la Fuente, Angel, 1996. "On the Sources of Convergence: A Close Look at the Spanish Regions," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1543, C.E.P.R. Discussion Papers.
  24. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December.
  25. Barro, Robert T. & Sala-I-Martin, Xavier, 1992. "Regional growth and migration: A Japan-United States comparison," Journal of the Japanese and International Economies, Elsevier, vol. 6(4), pages 312-346, December.
  26. Robert J. Barro & Xavier Sala-i-Martin, 1990. "Economic Growth and Convergence across The United States," NBER Working Papers 3419, National Bureau of Economic Research, Inc.
  27. Coulombe, S. & Lee, F.C., 1993. "Regional Economic Disparities in Canada," Working Papers, University of Ottawa, Department of Economics 9317e, University of Ottawa, Department of Economics.
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