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Sources of Regional Convergence: Theory and European Evidence


  • José Pedro Pontes

    (ISEG - Instituto Superior de Economia e Gestão)


The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued in this period. Income levels have diverged inside each country in a weak sense with two exceptions. Theoretical forces behind income convergence are analized by means of the decomposition of per capita income in labour productivity and employment rate and applied to the stylized facts outlined above. The case of Portugal is regarded as an atypical one, since the country has converged as a whole to the European average as the main factor behind this performance. However, the limited convergence of labor productivity bounds the expected future performance of the Portuguese economy.

Suggested Citation

  • José Pedro Pontes, 2002. "Sources of Regional Convergence: Theory and European Evidence," Notas Económicas, Faculty of Economics, University of Coimbra, issue 16, pages 6-15, November.
  • Handle: RePEc:gmf:journl:y:2002:i:16:p:6-15

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    1. Baruch Lev & Theodore Sougiannis, 1999. "Penetrating the Book-to-Market Black Box: The R&D Effect," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(3-4), pages 419-449.
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    4. Brown, Stephen & Lo, Kin & Lys, Thomas, 1999. "Use of R2 in accounting research: measuring changes in value relevance over the last four decades," Journal of Accounting and Economics, Elsevier, vol. 28(2), pages 83-115, December.
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    6. Louis K. C. Chan, 2001. "The Stock Market Valuation of Research and Development Expenditures," Journal of Finance, American Finance Association, vol. 56(6), pages 2431-2456, December.
    7. repec:bla:joares:v:37:y:1999:i:2:p:319-352 is not listed on IDEAS
    8. Hirschey, Mark & Richardson, Vernon J & Scholz, Susan, 2001. "Value Relevance of Nonfinancial Information: The Case of Patent Data," Review of Quantitative Finance and Accounting, Springer, vol. 17(3), pages 223-235, November.
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