Determinants of Income Growth in U.S. Metropolitan and Non-metropolitan Labor Markets
AbstractThis research analyzes determinants of growth across U.S. labor market regions,using a production function approach based on four inputs: labor, manufacturing investment, human capital investment, and public capital investment. We find significant differences in the relative influence of growth determinants between metropolitan and non-metropolitan regions during the 1969-1999 period. We find little role for public capital investment in either metropolitan or non-metropolitan regions, but that manufacturing investment tended to spur growth in non-metropolitan regions, in contrast to results for metropolitan regions. We find that human capital matters for both metropolitan and non-metropolitan regions, but that increased human capital investment in metropolitan regions may have a larger impact on growth than in non-metropolitan regions. Further, the presence of more colleges and universities, more household amenities, and lower tax rates were all found to encourage human capital accumulation in U.S. labor market areas.
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Bibliographic InfoPaper provided by Department of Economics, West Virginia University in its series Working Papers with number 06-12 Classification- JEL: O40, R11.
Length: 35 pages
Date of creation: 2006
Date of revision:
metropolitan; non-metropolitan; Constant-Elasticity-of-Substitution; Solow growth model; Income growth;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-14 (All new papers)
- NEP-GEO-2006-10-14 (Economic Geography)
- NEP-HRM-2006-10-14 (Human Capital & Human Resource Management)
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- Hammond, George W. & Tosun, Mehmet S., 2009.
"The Impact of Local Decentralization on Economic Growth: Evidence from U.S. Counties,"
IZA Discussion Papers
4574, Institute for the Study of Labor (IZA).
- George W. Hammond & Mehmet S. Tosun, 2011. "The Impact Of Local Decentralization On Economic Growth: Evidence From U.S. Counties," Journal of Regional Science, Wiley Blackwell, vol. 51(1), pages 47-64, 02.
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