Higgins, Matthew; Levy, Daniel; Young, Andrew - EconWPA - 2005
We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using OLS … and 3SLS-IV we report on the full sample and metro, non-metro, and 5 regional samples: (1) OLS yields convergence rates … around 2 percent; 3SLS yields 6–8 percent; (2) convergence rates vary (e.g., the Southern rate is 2.5 times the Northeastern …
