Interest rates and convergence across Italian regions
AbstractThe purpose of this paper is to investigate the evidence for economic convergence across Italian regions using trends in interest rate spreads and premia as indicators of regional credit conditions. Our results indicate the presence of persistent interest rate differentials, and thus an absence of convergence across the twenty political regions, but we observe a high degree of convergence within the four macroeconomic areas. On the other hand we find evidence of a strong level of homogeneity in credit conditions within each of the four macroeconomic regions.
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Bibliographic InfoPaper provided by University of Stirling, Division of Economics in its series Stirling Economics Discussion Papers with number 2009-13.
Date of creation: May 2009
Date of revision:
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Postal: Division of Economics, University of Stirling, Stirling, Scotland FK9 4LA
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Web page: http://www.econ.stir.ac.uk/
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Italy; convergence; panel data; unit root; interest rates;
Other versions of this item:
- Sheila Dow & Alberto Montagnoli & Oreste Napolitano, 2012. "Interest Rates and Convergence across Italian Regions," Regional Studies, Taylor and Francis Journals, vol. 46(7), pages 893-905, October.
- NEP-ALL-2009-06-10 (All new papers)
- NEP-GEO-2009-06-10 (Economic Geography)
- NEP-MAC-2009-06-10 (Macroeconomics)
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