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| Author: | Sala-i-Martin, X. X. |
| Title: | Regional cohesion: Evidence and theories of regional growth and convergence |
| Journal: | European Economic Review
1996 : JUN, VOL. 40:6, p. 1325-1352 |
| Index terms: | ECONOMIC GROWTH CAPITAL TECHNOLOGY DIFFUSION ECONOMIC CONVERGENCE |
| Language: | eng |
| Abstract: | After arguing that the concepts of beta-convergence and sigma-convergence are independently interesting, the paper extends the empirical evidence on regional growth and convergence across the United States, Japan and five European countries. Estimated speeds of convergence are confirmed to be surprisingly similar across data sets: regions tend to converge at a speed of appr. two percent a year. It is also shown that the interregional distribution of income in all countries has shrunk over time. It is then argued that, among the proposed potential explanations of the phenomenon, the one-sector neo-classical growth model and the hypothesis of technological diffusion seem to be the ones which survive scrutiny. |
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