Models and Simulations of GDP per Inhabitant Across Europe’s Regions: A Preliminary View
The intention in this chapter is to illustrate the geographical distribution across the EU regions of a selection of important socio-economic indicators and to describe some recent economic growth trends. Some attention is also given to convergence, which might be explained by neoclassical growth theory and a process of diminishing returns (see Barro and Sala-i-Martin 1991), but which might also be observed for regions in the sway of some other convergence-inducing mechanism, for instance the impact of structural funds, the effects of policy instruments on the migration of labour or on capital mobility, or the diffusion of innovations. Bearing in mind these alternatives, the chapter estimates cross-sectional models based on neoclassical growth theory as a basis for exploring via simulation alternative scenarios.
KeywordsPopulation Growth Rate Gini Coefficient Technical Progress Capita Growth Capita Level
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