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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
As the differences between the regions are more pronounced than among the countries, NUTS 2 regions of the new members that joined the EU after 2000 are considered. Due to the presence of externalities between the regions, the Solow growth model using interregional externalities is used. This is...
Persistent link: https://www.econbiz.de/10013279716
The aim of this paper is to analyze the consequences of spatial dependence on regional growth and the convergence … process. Based on a sample of 92 European regions over the 1980-1995 period, we show that the unconditional ?-convergence …
Persistent link: https://www.econbiz.de/10011020060
us distance, communications infrastructure or population in the spatial weights matrix associated to a ?-convergence …
Persistent link: https://www.econbiz.de/10011020148
This paper aims to determine whether there is any convergence at all between the economic activities of the Colombian … Cundinamarca and Antioquia examples of outstanding performance. This way, it is concluded that there is convergence between the … Colombian municipalities for the period analyzed, reaching an approximate convergence speed of 3.34% per annum. …
Persistent link: https://www.econbiz.de/10011258663