Interest rates and convergence across Italian regions
The purpose of this paper is to investigate the evidence for economic convergence across Italian regions using trends in interest rate spreads and premia as indicators of regional credit conditions. Our results indicate the presence of persistent interest rate differentials, and thus an absence of convergence across the twenty political regions, but we observe a high degree of convergence within the four macroeconomic areas. On the other hand we find evidence of a strong level of homogeneity in credit conditions within each of the four macroeconomic regions.
|Date of creation:||May 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Division of Economics, University of Stirling, Stirling, Scotland FK9 4LA|
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