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By studying the interaction between social capital and decentralization, we show that political decentralization can be a source of divergence across heterogeneous regions. In particular, we claim that since the local endowments of social capital display their effect on the economy mainly...
Persistent link: https://www.econbiz.de/10010671478
divergence, then of convergence, reflecting a familiar pattern. The main characteristic in the case of the Mezzogiorno, however …, is that the convergence phase led the area to a remarkably unfavorable steady-state. Further, I suggest that the …
Persistent link: https://www.econbiz.de/10008490585