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Testing the stochastic convergence of Italian regions using panel data

  • Mauro Costantini
  • Giuseppe Arbia

This paper examines stochastic convergence in real per capita GDP for Italian regions using recent non-stationary panel data methodologies over the period 1951 to 2002. Economies stochastically converge when regional differences across economies are not persistent, and long-run movements in a region's real per capita GDP are driven by technological shocks. Four panel unit root tests are used to evaluate stochastic convergence and Monte Carlo simulation is performed to obtain critical values. The results indicate that there is no stochastic convergence among Italian regions. They also provide some evidence in favour of stochastic convergence of regions in the Northern part of Italy.

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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 13 (2006)
Issue (Month): 12 ()
Pages: 775-783

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Handle: RePEc:taf:apeclt:v:13:y:2006:i:12:p:775-783
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