Overall US and Census Region β-Convergence 1963–2015 Controlling for Spatial Effects

IF 1.5 Q2 ECONOMICS

Comparative Economic Studies Pub Date : 2021-07-14 DOI:10.1057/s41294-021-00159-y

Vicente German-Soto, Gregory Brock

引用次数: 3

Abstract

Economic growth and β-convergence of American states 1963–2015 is analyzed adjusting for significant spatial autocorrelation with system-GMM by considering the four Census macro regions individually. The Census regions converged over the last 50 years with both physical and human capital contributing to growth. In an early era (1963–1983), convergence was higher with rates varying between 4.7 and 1.5%, while for a later era (1984–2015) the rate was below 1% which is below the standard of 2% but fits well with a neoclassical growth paradigm. The Midwest region had the highest rate of convergence in the early era but then had almost no convergence in the later era with the other three regions having very low but positive convergence. Unlike many earlier studies, human as well as physical capital accumulation empirically supports economic growth as theory predicts.

查看原文本刊更多论文

美国总体和人口普查区域β-收敛1963-2015控制空间效应

本文分析了1963-2015年美国各州经济增长与β-收敛的关系，并分别考虑4个人口普查宏观区域，对系统- gmm进行了显著空间自相关调整。人口普查区域在过去50年趋同，物质资本和人力资本都促进了增长。在早期阶段(1963-1983年)，趋同程度较高，增长率在4.7 - 1.5%之间变化，而在后期阶段(1984-2015年)，趋同程度低于1%，低于2%的标准，但与新古典增长范式非常吻合。中西部地区早期辐合率最高，后期几乎没有辐合，其他三个地区辐合率虽低但正。与许多早期的研究不同，正如理论预测的那样，人力和物质资本积累在经验上支持经济增长。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Comparative Economic Studies ECONOMICS-

CiteScore

2.30

自引率

12.50%

发文量

期刊介绍： Comparative Economic Studies is a journal of the Association for Comparative Economic Studies (ACES). It aims to publish papers that address several objectives: that provide original political economy analysis from a comparative perspective, that are an accessible source for state-of-the-art comparative economics thinking, that encourage cross-fertilization of ideas, that debate directions for future research in comparative economics, and that can provide materials and insights that are relevant for teaching, public policy debate and the media. Comparative Economic Studies welcome both submissions that are explicitly comparative and case studies of single countries or regions. The journal is interested in papers that investigate how economic systems respond to economic transitions, crises and to structural change, brought about by globalization, demographics, institutions, technology, politics, and the environment. While maintaining its position as an important outlet for work on Central Europe and the Former Soviet Union, the scope of Comparative Economic Studies encompasses other areas as well (European Union, Asia, Latin America, and Africa).