Growth and Convergence across the United States: Evidence from County-level Data
نویسندگان
چکیده
We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using ordinary least squares (OLS) and three-stage least squares with instrumental variables (3SLS-IV), we report on the full sample and metro, nonmetro, and and regional samples: (1) OLS yields convergence rates around 2%; 3SLS yields 6%–8%; (2) convergence rates vary (for example, the Southern rate is 2.5 times the Northeastern rate); (3) federal, state, and local government negatively correlates with growth; (4) the relationship between educational attainment and growth is nonlinear; and (5) the finance, insurance, and real estate industry and the entertainment industry correlate positively with growth, whereas education employment correlates negatively.
منابع مشابه
Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data
In this paper, we outline (i) why σ -convergence may not accompany β-convergence, (ii) discuss evidence of β-convergence in the United States, and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that σ -convergence cannot be detected at the county level across the United States, or within the large majority of the individual U.S. states conside...
متن کاملHeterogeneity in Convergence Rates and Income Determination across U.S. States: Evidence from County-Level Data*
We utilize county-level data to explore growth determination in the U.S. and possible heterogeneity in growth determination across individual states. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. We use a consistent two stage least squares estimation procedure. (We report OLS estimates as well.) The estimated convergence rate across the U.S. is ...
متن کاملConvergence of Real Per Capita GDP within East Asian and Middle East Countries: Panel Unit Root Evidence
This paper examines convergence of real GDP per capita in the selected East Asian countries and this relationship with selected Middle East countries during the period 1950-2009. The reason behind this refers to the fact that East Asia countries (including China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Japan and South Korea) have been involved in achieving success arising from regi...
متن کاملGrowth and Convergence across the US: Evidence from County-Level Data*
We use U.S. county-level data consisting of 3,058 observations, to study growth determination and measure the speed of income convergence. County-level data are particularly valuable for studying convergence because they allow us to study a sample with substantial homogeneity and exceptional mobility of capital, labor and technology without sacrificing the benefits of a large number of cross-se...
متن کاملRegional Growth and Income Convergence in the Western Black Belt Counties of Alabama: Evidence from Census Block Group Data
This paper examines the effects of growth in African American population, employment, and human capital on growth in per capita income at the census block group (CBG) level using ordinary least square and spatial regression models, The results indicate the presence of conditional income convergence between 1980 and 2000 with poorer CBGs growing faster than the wealthier CBGs, The results also s...
متن کامل