Convergence clubs in the regions of Greece
Although there have been numerous studies on economic convergence, at both national and regional levels, the concept of club convergence has received far less attention. A convergence club implies the existence of a set of economies that in the long run are driven to a common steady-state position. This study contributes to the empirical literature on Greek regions by testing for the existence of a convergence club over the period 1970-2000. Time series techniques and two empirical approaches to the common convergence point are employed. Results suggest that, while there is no uniform pattern across all regions, four central regions follow a common convergence path. One important conclusion also to emerge from the study is that, in the case of Greece, a measure of average economic performance as a proxy for the steady-state convergence point would appear to be more appropriate when seeking to identify the members of a convergence club.
Volume (Year): 11 (2004)
Issue (Month): 6 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEL20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEL20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- N. Gregory Mankiw & David Romer & David N. Weil, 1992.
"A Contribution to the Empirics of Economic Growth,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 107(2), pages 407-437.
- N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
- Bernard, Andrew B & Durlauf, Steven N, 1995. "Convergence in International Output," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(2), pages 97-108, April-Jun.
- Bernard, A.B. & Durlauf, S.N., 1993. "Convergence in International Output," Working papers 93-7, Massachusetts Institute of Technology (MIT), Department of Economics.
- Baumol, William J & Wolff, Edward N, 1988. "Productivity Growth, Convergence, and Welfare: Reply," American Economic Review, American Economic Association, vol. 78(5), pages 1155-1159, December.
- Costas Siriopoulos & Dimitrios Asteriou, 1998. "Testing for Convergence Across the Greek Regions," Regional Studies, Taylor & Francis Journals, vol. 32(6), pages 537-546, August.
- Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-1085, December.
- Baumol, William J., 1985. "Productivity Growth, Convergence and Welfare: What the Long Run Data Show," Working Papers 85-27, C.V. Starr Center for Applied Economics, New York University.
- Les Oxley & David Greasley, 1999. "A Nordic convergence club?," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 157-160. Full references (including those not matched with items on IDEAS)