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We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...
Persistent link: https://www.econbiz.de/10011090750
The paper studies the dynamic output effects of public infrastructure investment in a small open economy. We develop an overlapping generations model that includes a production externality of public capital and a wealth effect on labor supply. Public capital enters the firm's production function...
Persistent link: https://www.econbiz.de/10011090760
This paper examines the empirical relationship between agglomeration and economic growth for a panel of 48 Central and Eastern European regions from 1995 to 2006. By agglomeration, we mean the within-regional concentration of aggregate economic activity, which we measure using the 'topographic'...
Persistent link: https://www.econbiz.de/10011506442
We investigate the convergence process among EU regions between 1980-2002 taking into account the effects of spatial …
Persistent link: https://www.econbiz.de/10010295468
The aim of our analysis is the evaluation of the total and sectoral convergence of labour productivity between 182 … adopt a β- and σ-convergence approach along with a methodology based on Getis' spatial filters that allows decomposing … and low productivity, respectively ‘core' and ‘periphery'. Our results show significant σ-convergence in aggregate labour …
Persistent link: https://www.econbiz.de/10011340812
Using sigma and beta convergence methods, this study tests economic convergence in Turkish NUTS-2 regions between 2004 …-2011. The findings of sigma convergence analysis show that the interregional income gap decreases during economic recession … periods and increases during economic expansion periods. The beta convergence results obtained by the cross-sectional and …
Persistent link: https://www.econbiz.de/10012610972
The aim of this paper is to present a further contribution, with panel data, to the analysis of absolute convergence … productivity at regional level. Presenting some empirical evidence of absolute convergence of productivity for each of the economic … empirical evidence of conditional convergence of productivity, for each of the economic sectors of the NUTS II of Portugal, from …
Persistent link: https://www.econbiz.de/10009203640
This paper estimates the impact of public investment on regional economic growth and convergence at the NUTS III level … capita on regional economic growth – but not on convergence – which also generates considerable spillover effects. However …
Persistent link: https://www.econbiz.de/10010568419
We show in this paper that spatial dependence and spatial heterogeneity matter in the estimation of the b-convergence … dependence and spatial heterogeneity in the form of structural instability across spatial convergence clubs. The estimation of … the appropriate spatial regimes spatial error model shows that the convergence process is different across regimes. We …
Persistent link: https://www.econbiz.de/10005556337
L'objectif de cet article est d'analyser la dépendance spatiale dans les processus de convergence des régions … permet d'apporter un éclairage nouveau sur la mesure habituelle de la s-convergence qui masque des schémas géographiques … particuliers fluctuants dans le temps. D'autre part nous testons la présence d'autocorrélation spatiale dans les modèles de b-convergence …
Persistent link: https://www.econbiz.de/10005587834