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Local Growth Empirics

Author

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  • Rappaport, J.

Abstract

Using a newly constructed data panel on U.S. locality attributes, this paper sketches four sets of empirical facts on economic growth across U.S. counties. A first set of facts focuses on the time series and cross-correlation properties of local economic growth as measured by net migration, per capita income growth, and housing price growth. A second and a third set of facts focus on the geographical correlates of local growth over the 20th century and the non-government correlates of local growth over the period 1970 to 1990. A fourth set of facts focuses on the government fiscal policy correlates of local growth. Local economic growth from 1970 to 1990 is strongly negatively correlated with financial measures of initial local government size. This negative correlation is extremely robust across alternative specifications; an extensive set of control variables eliminates any obvious omitted variable bias; there is no indication of reverse causality; and the result is not driven by the elderly.

Suggested Citation

  • Rappaport, J., 2000. "Local Growth Empirics," Papers 23, Chicago - Graduate School of Business.
  • Handle: RePEc:fth:chicbu:23
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    Cited by:

    1. Edward L. Glaeser, Jed Kolko, and Albert Saiz, 2001. "Consumer city," Journal of Economic Geography, Oxford University Press, vol. 1(1), pages 27-50, January.
    2. Rappaport, Jordan, 2004. "Why are population flows so persistent?," Journal of Urban Economics, Elsevier, vol. 56(3), pages 554-580, November.
    3. Raghuram G. Rajan & Rodney Ramcharan, 2011. "Land and Credit: A Study of the Political Economy of Banking in the United States in the Early 20th Century," Journal of Finance, American Finance Association, vol. 66(6), pages 1895-1931, December.
    4. Marco Bassetto & Leslie McGranahan, 2009. "On the relationship between mobility, population growth, and capital spending in the United States," Working Paper Series WP-09-25, Federal Reserve Bank of Chicago.
    5. Andrew T. Young & Matthew J. Higgins & Donald J. Lacombe & Briana Sell, 2014. "The Direct and Indirect Effects of Small Business Administration Lending on Growth: Evidence from U.S. County-Level Data," Working Papers 14-35, Department of Economics, West Virginia University.
    6. Stefano Magrini & Paul Cheshire, 2006. "European Urban Growth: now for some problems of spaceless and weightless econometrics," Working Papers 2006_23, Department of Economics, University of Venice "Ca' Foscari".
    7. Paul Cheshire & Stefano Magrini, 2006. "Population growth in European cities: Weather matters - but only nationally," Regional Studies, Taylor & Francis Journals, vol. 40(1), pages 23-37.
    8. Henry, Mark & Barkley, David & Li, Haizhen, 2004. "Education and Nonmetropolitan Income Growth in the South," The Review of Regional Studies, Southern Regional Science Association, vol. 34(3), pages 223-244.
    9. Matthew Higgins & Daniel Levy & Andrew Young, 2003. "Growth and Convergence across the U.S.: Evidence from County-level Data," Emory Economics 0306, Department of Economics, Emory University (Atlanta).
    10. Christoph Schaltegger & Benno Torgler, 2006. "Growth effects of public expenditure on the state and local level: evidence from a sample of rich governments," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1181-1192.
    11. Matthew Higgins & Andrew Young & Daniel Levy, 2009. "Federal, state, and local governments: evaluating their separate roles in US growth," Public Choice, Springer, vol. 139(3), pages 493-507, June.
    12. Bernard Boureille & Yacine Belarbi & Abdallah Zouache, 2007. "Regional Employement Growth and Spatial Dependencies in Algeria (1998-2005)," Post-Print ujm-00163347, HAL.
    13. Alberto Alesina & Eliana La Ferrara, 2003. "Ethnic Diversity and Economic Performance," Harvard Institute of Economic Research Working Papers 2028, Harvard - Institute of Economic Research.
    14. Charles Plaigin, 2009. "Exploratory study on the presence of cultural and institutional growth spillovers," DULBEA Working Papers 09-03.RS, ULB -- Universite Libre de Bruxelles.
    15. Young, Andrew T. & Higgins, Matthew J. & Levy, Daniel, 2013. "Heterogeneous convergence," Economics Letters, Elsevier, vol. 120(2), pages 238-241.
    16. Rappaport, Jordan, 2005. "How does labor mobility affect income convergence?," Journal of Economic Dynamics and Control, Elsevier, vol. 29(3), pages 567-581, March.
    17. Davis, James C. & Henderson, J. Vernon, 2008. "The agglomeration of headquarters," Regional Science and Urban Economics, Elsevier, vol. 38(5), pages 445-460, September.
    18. Zouache Abdallah & Belarbi Yacine, 2015. "Regional Employment Growth and Spatial Dependencies in Algeria," Review of Middle East Economics and Finance, De Gruyter, vol. 11(2), pages 183-206, August.
    19. Paul_Cheshire & Stefano_Magrini, 2004. "Population Growth in European Cities: weather matters – but only nationally," Urban/Regional 0410001, EconWPA.
    20. Saiz, Albert, 2007. "Immigration and housing rents in American cities," Journal of Urban Economics, Elsevier, vol. 61(2), pages 345-371, March.
    21. Miguel Lopes & Patricia Palma & Miguel e Cunha, 2011. "Tolerance is Not Enough: The Moderating Role of Optimism on Perceptions of Regional Economic Performance," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 102(2), pages 333-350, June.
    22. Joern Rattsoe & Hildegunn Ekroll Stokke, 2009. "Regional income convergence, skilled migration and productivity response: Explaining relative stagnation in the periphery," Working Paper Series 9809, Department of Economics, Norwegian University of Science and Technology.
    23. Cheshire, Paul C. & Magrini, Stefano, 2002. "The distinctive determinants of European urban growth: Does one size fit all?," ERSA conference papers ersa02p100, European Regional Science Association.
    24. Albert Solé Ollé & Elisabet Viladecans Marsal, 2003. "Fiscal and growth spillovers in large urban areas," Working Papers 2003/1, Institut d'Economia de Barcelona (IEB).

    More about this item

    Keywords

    ECONOMIC GROWTH ; MIGRATION ; FACTORS MOBILITY;

    JEL classification:

    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R50 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - General
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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