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Growth and Convergence Across the U.S : Evidence from County-Level Data
Higgins, Matthew J.; Levy, Daniel C.; Young, Andrew T. - 2015
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 …
Persistent link: https://www.econbiz.de/10014027540
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Sigma Convergence Versus Beta Convergence : Evidence from U.S. County-Level Data
Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel C. - 2015
In this paper we outline (i) why sigma-convergence may not accompany beta-convergence, (ii) discuss evidence of beta-convergence … sigma-convergence has not occurred at the county-level across the U.S., or within the vast majority of the individual U …
Persistent link: https://www.econbiz.de/10014029829
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Growth and Convergence Across the Us : Evidence from County-Level Data
Higgins, Matthew J.; Levy, Daniel C.; Young, Andrew T. - 2015
income convergence. County-level data are particularly valuable for studying convergence because they allow us to study a … in the conditional convergence rates, we report the estimates for the entire data set as well as for subsets including … metro counties, non-metro counties, and five regional groupings. Our findings include: (i) while OLS yields convergence …
Persistent link: https://www.econbiz.de/10014031089
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The Direct and Indirect Effects of Small Business Administration Lending on Growth: Evidence from U.S. County-Level Data
Young, Andrew T.; Higgins, Matthew J.; Lacombe, Donald J.; … - Department of Economics, College of Business and Economics - 2014
Conventional wisdom suggests that small businesses are innovative engines of Schumpetarian growth. However, as small businesses, they are likely to face credit rationing in financial markets. If true then policies that promote lending to small businesses may yield substantial economy-wide...
Persistent link: https://www.econbiz.de/10011161334
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The Direct and Indirect Effects of Small Business Administration Lending on Growth : Evidence from U.S. County-Level Data
Young, Andrew T. - 2015
Conventional wisdom suggests that small businesses are innovative engines of Schumpetarian growth. However, as small businesses, they are likely to face credit rationing in financial markets. If true then policies that promote lending to small businesses may yield substantial economy-wide...
Persistent link: https://www.econbiz.de/10013032373
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Heterogeneous convergence
Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - 2013
We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity …. E.g., the California estimate is 19.9 percent and the New York estimate is 3.3 percent. Convergence rates are …
Persistent link: https://www.econbiz.de/10010335973
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Federal, state, and local governments: Evaluating their separate roles in US growth
Higgins, Matthew J.; Young, Andrew T.; Levy, Daniel - 2008
We use US county level data (3,058 observations) from 1970 to 1998 to explore the relationship between economic growth and the extent of government employment at three levels: federal, state and local. We find that increases in federal, state and local government employments are all negatively...
Persistent link: https://www.econbiz.de/10010336011
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Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data
Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - In: Journal of Money, Credit and Banking 40 (2008) 5, pp. 1083-1093
In this paper, we outline (i) why σ-convergence may not accompany β-convergence, (ii) discuss evidence of β-convergence … demonstrate that σ-convergence cannot be detected at the county level across the United States, or within the large majority of …
Persistent link: https://www.econbiz.de/10012140581
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Robust Correlates of County-Level Growth in the U.S.
Higgins, Matthew J.; Young, Andrew T.; Levy, Daniel - In: Applied Economics Letters 17 (2010) 3, pp. 293-296
Higgins et al. (2006), report several statistically significant partial correlates with US per capita income growth. However, Levine and Renelt (1992) demonstrate that such correlations are hardly ever robust to changing the combination of conditioning variables included. We ask, whether the...
Persistent link: https://www.econbiz.de/10012140585
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Heterogeneous Convergence
Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - In: Economics Letters 120 (2013) 2, pp. 238-241
We use US county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity …. E.g., the California estimate is 19.9% and the New York estimate is 3.3%. Convergence rates are essentially uncorrelated …
Persistent link: https://www.econbiz.de/10012140587