Variations on economic convergence: The case of the United States
This paper tests the hypothesis of "conditional &bgr;-convergence" in per capita income across the United States by extending the neoclassical growth model to incorporate public capital, government taxation, and human capital, and controlling empirically for technology growth. We expand the period of analysis from the late 1980s when studies using public capital stock have stopped, investigate spatial variation across the United States under various cross-sectional and panel spatial models, and tackle the issue of nonlinearities. All model "variations" provide evidence of economic convergence across the United States over the period 1960-2005. Copyright (c) 2008 the author(s). Journal compilation (c) 2008 RSAI.
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Volume (Year): 88 (2009)
Issue (Month): 2 (06)
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