Empirical Measures of Regional Convergence

  • Stilianos Alexiadis
Chapter
Part of the Advances in Spatial Science book series (ADVSPATIAL)

Abstract

The theoretical analysis of convergence presented thus far has examined the circumstances in which an economy converges towards an equilibrium level of output per-worker or a steady-state rate of growth. The possibility that groups of economies are likely to converge towards the same steady-state (absolute convergence) or towards different steady-states (conditional convergence) has also been examined. In discussing club convergence, the possibility of convergence towards a leading economy has also been addressed. In reality economies are not in equilibrium and are subject to all manner of shocks at different points in time. Therefore, an important question arises: ‘how is possible to test for convergence, when the steady-state is never achieved?’ The approach, in practice, is to direct empirical measures of convergence towards the process of convergence, rather than the equilibrium outcome.

Keywords

Regional Convergence Absolute Convergence Spatial Weight Matrix Spatial Error Model Conditional Convergence 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Stilianos Alexiadis
    • 1
  1. 1.Ministry of Rural Development and FoodsAthensGreece

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