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Regional disparities in the spatial correlation of state income growth

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Author Info
Thomas A. Garrett
Gary A. Wagner
David C. Wheelock

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Abstract

This paper presents new evidence of spatial correlation in U.S. state income growth. We extend the basic spatial econometric model used in the growth literature by allowing spatial correlation in state income growth to vary across geographic regions. We find positive spatial correlation in income growth rates across neighboring states, but that the strength of this spatial correlation varies considerably by region. Spatial correlation in income growth is highest for states located in the Northeast and the South. Our findings have policy implications both at the state and national level, and also suggest that growth models may benefit from incorporating more complex forms of spatial correlation.

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Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number 2005-061.

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Date of creation: 2005
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Handle: RePEc:fip:fedlwp:2005-061

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Keywords: Regional economics ; Income distribution;

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  1. Ades, Alberto & Chua, Hak B, 1997. " Thy Neighbor's Curse: Regional Instability and Economic Growth," Journal of Economic Growth, Springer, vol. 2(3), pages 279-304, September. [Downloadable!] (restricted)
  2. Donald G. Freeman, 2005. "Change-Point Analysis of the Growth Effects of State Banking Deregulation," Economic Inquiry, Oxford University Press, vol. 43(3), pages 601-613, July. [Downloadable!] (restricted)
  3. Garrett, Thomas A. & Marsh, Thomas L., 2002. "The revenue impacts of cross-border lottery shopping in the presence of spatial autocorrelation," Regional Science and Urban Economics, Elsevier, vol. 32(4), pages 501-519, July. [Downloadable!] (restricted)
  4. Danny Quah, 1992. "Empirical cross-section dynamics in economic growth," Discussion Paper / Institute for Empirical Macroeconomics 75, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  5. Crain, W Mark & Lee, Katherine J, 1999. "Economic Growth Regressions for the American States: A Sensitivity Analysis," Economic Inquiry, Oxford University Press, vol. 37(2), pages 242-57, April.
  6. Freeman, Donald G., 2002. "Did state bank branching deregulation produce large growth effects?," Economics Letters, Elsevier, vol. 75(3), pages 383-389, May. [Downloadable!] (restricted)
  7. Bernard Fingleton, 2001. "Equilibrium and Economic Growth: Spatial Econometric Models and Simulations," Journal of Regional Science, Blackwell Publishing, vol. 41(1), pages 117-147. [Downloadable!] (restricted)
  8. LE GALLO, Julie, 2001. "Space-time analysis of GDP disparities among European regions: A Markov chains approach," LATEC - Document de travail - Economie (1991-2003) 2001-06, LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne. [Downloadable!]
  9. Maria Abreu & Henri L.F. de Groot & Raymond J.G.M. Florax, 2004. "Space and Growth," Tinbergen Institute Discussion Papers 04-129/3, Tinbergen Institute. [Downloadable!]
  10. Case, Anne, 1992. "Neighborhood influence and technological change," Regional Science and Urban Economics, Elsevier, vol. 22(3), pages 491-508, September. [Downloadable!] (restricted)
  11. Thomas A. Garrett & Gary A. Wagner & David C. Wheelock, 2005. "A spatial analysis of state banking regulation," Working Papers 2003-044, Federal Reserve Bank of St. Louis. [Downloadable!]
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  12. David C. Wheelock, 2003. "Commentary on The real effects of U.S. banking deregulation," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 129-134. [Downloadable!]
  13. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June. [Downloadable!] (restricted)
  14. Ramon Moreno & Bharat Trehan, 1997. "Location and the growth of nations," Working Papers in Applied Economic Theory 97-02, Federal Reserve Bank of San Francisco. [Downloadable!]
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  15. Conley, Timothy G & Ligon, Ethan, 2002. " Economic Distance and Cross-Country Spillovers," Journal of Economic Growth, Springer, vol. 7(2), pages 157-87, June. [Downloadable!] (restricted)
  16. Salvador Barrios & Juan Jose Lucio, 2003. "Economic Integration and Regional Business Cycles: Evidence from the Iberian Regions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(4), pages 497-515, 09. [Downloadable!] (restricted)
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  17. María Teresa Ramírez & Ana María Loboguerrero, 2002. "Spatial Dependence and Economic Growth: Evidence From a Panel of Countries," BORRADORES DE ECONOMIA 003522, BANCO DE LA REPÚBLICA. [Downloadable!]
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  18. De Long, J Bradford & Summers, Lawrence H, 1991. "Equipment Investment and Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 445-502, May. [Downloadable!] (restricted)
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