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Title of Journal: Empirical Economics

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Abbravation: Empirical Economics

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Physica-Verlag

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DOI

10.1002/jmri.22142

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1435-8921

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Convergence in percapita GDP across European regi

Authors: Valentina Meliciani Franco Peracchi
Publish Date: 2006/06/17
Volume: 31, Issue: 3, Pages: 549-568
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Abstract

This paper studies convergence in percapita GDP across European regions over the period 1980–2000 We use median unbiased estimators of the rate of convergence to the steadystate growth path while allowing for unrestricted patterns of heterogeneity and spatial correlation across regions By permitting the model parameters to be completely different across regions not only we avoid imposing strong a priori assumptions but we are also able to analyze the spatial patterns in the estimated coefficients Our results differ from those found using conventional estimators The main differences are i the mean rate of convergence is much lower ii for most regions this rate is zero iii the number of regions for which we reject equality in trend growth rates is substantially lower We also find significant evidence of correlation of growth rates across neighbor regions and across regions belonging to the same country

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