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Output, Growth, And Convergence In A Greative Region: An Analysis Of Some Measurement Issues

Author

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  • Amitrajeet A. BATABYAL

    (Department of Economics, Rochester Institute of Technology, 92 Lomb Memorial Drive, Rochester, NY 14623-5604, USA.)

Abstract

We study some measurement issues that arise when analyzing the long run behavior of the jth creative region’s time t log output per creative class member (yj(t)) when this region is part of an aggregate economy of j=1,...N creative regions. We focus first (second) on absolute (relative) convergence. In the absolute (relative) convergence case, the N creative regions are similar (dissimilar) in that they all have the same (different) balanced growth path (BGP) level of log output per creative class member denoted by yBGP(yjBGP) In the absolute convergence case, we analyze how to estimate the speed of convergence parameter (σ) and then discuss the relationship between the variance of yj(t) and that of yj(0) In the relative convergence case, we study the error associated with estimating σ using the methodology of the absolute convergence case. Finally, suppose yjBGP= a + bXj where Xj is an explanatory variable such as creative capital and a and b are positive constants. Here, we study how to estimate b from our knowledge of the coefficients of a related cross-region growth regression.

Suggested Citation

  • Amitrajeet A. BATABYAL, 2017. "Output, Growth, And Convergence In A Greative Region: An Analysis Of Some Measurement Issues," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 11-19, June.
    • Handle: RePEc:hrs:journl:v:ix:y:2017:i:1:p:11-19
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    Cited by:

    1. Panagiotis KOUDOUMAKIS & George BOTZORIS & Angelos PROTOPAPAS, 2021. "The Contribution Of Cohesion Policy To The Development And Convergence Of The Regions Of The European Union," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 277-290, June.
    2. Gentiana SHARKU & Etleva BAJRAMI, 2021. "Insurance-Economic Growth Nexus - Evidence From Selected Western Balkan'S Countries," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 53-68, June.

    More about this item

    Keywords

    Convergence; Creative Capital; Economic Growth; Measurement; Output;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General

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