On beta and sigma convergence of Czech regions
AbstractThe aim of the article is to examine beta and sigma convergence of fourteen Czech regions during 1995-2009. Using real GDP per capita panel data from the Czech Statistical Office it was found that Czech regions σ-diverged in the period and this divergence was accelerating in time regardless of whether the capital city Prague was included among regions or not. Also, statistically significant β-divergence was present during the same period. There are two main possible reasons for the divergence: inequalities in foreign and domestic investments as well as the accumulation of human and physical capital in the most attractive regions, while less competitive regions were left behind. Policy implications necessary to reverse the situation include government’s support of investments in poorer regions and also gaining more financial resources from European ESF and ERDF funds.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 47940.
Date of creation: 01 Jul 2013
Date of revision:
β-convergence Czech Republic; Czech regions; divergence; GDP per capita; σ-convergence;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-05 (All new papers)
- NEP-EFF-2013-07-05 (Efficiency & Productivity)
- NEP-EUR-2013-07-05 (Microeconomic European Issues)
- NEP-GEO-2013-07-05 (Economic Geography)
- NEP-TRA-2013-07-05 (Transition Economics)
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