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Regional Income Convergence in the Enlarged Europe, 1995-2000: A Spatial Econometric Perspective

This paper adopts a spatial econometric perspective to analyse regional convergence of per
capita income in Europe in 1995 to 2000 and, moreover, relaxes the assumption of a single
steady-state growth path which appears to be out of tune with reality of empirical dynamics.
The two-club spatial error convergence model with groupwise heteroskedasticity is found to
be most appropriate for the data at hand. Two empirical key findings are worthwhile to note.
The first is that the data provide much support for unconditional ß-convergence in Europe.
The second is that the usual convergence conclusions hold. But they do so for reasons that are
not revealed by the classical test equation that is typical in mainstream economics literature. (authors' abstract)

Identiferoai:union.ndltd.org:VIENNA/oai:epub.wu-wien.ac.at:3967
Date06 1900
CreatorsFischer, Manfred M., Stirböck, Claudia
PublisherWU Vienna University of Economics and Business
Source SetsWirtschaftsuniversität Wien
LanguageEnglish
Detected LanguageEnglish
TypePaper, NonPeerReviewed
Formatapplication/pdf
Relationhttp://epub.wu.ac.at/3967/

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