Growth in regions

Journal of Economic Growth - Tập 19 - Trang 259-309 - 2014
Nicola Gennaioli1, Rafael La Porta2, Florencio Lopez De Silanes3, Andrei Shleifer4
1Bocconi University and IGIER, Milan, Italy
2Dartmouth College, Hanover, USA
3Edhec Business School, Nice Cedex 3, France
4Harvard University, Cambridge, USA

Tóm tắt

We use a newly assembled sample of 1,528 regions from 83 countries to compare the speed of per capita income convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and human capital. Regional convergence rate is about 2 % per year, comparable to that between countries. Regional convergence is faster in richer countries, and countries with better capital markets. A calibration of a neoclassical growth model suggests that significant barriers to factor mobility within countries are needed to account for the evidence.

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