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Regional Income Convergence in Sweden, 1911-2003: A Time Series Analysis

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  • DeJuan, Joseph
  • Persson, Joakim
  • Tomljanovich, Marc

Abstract

The issue of income convergence is important for policy makers’ regional strategies aimed at redistributing funds to poorer regions in a country. We investigate the growth and convergence characteristics of 24 Swedish counties during the period 1911–2003. Using time series techniques, we find that shocks to relative county per capita incomes are temporary, and that initially poor (rich) counties tend to experience higher (lower) growth rates than the nation as whole. Our findings are consistent with the neoclassical model's prediction of conditional convergence, and imply that market forces rather than interregional government redistribution are the main drivers behind our results.

Suggested Citation

  • DeJuan, Joseph & Persson, Joakim & Tomljanovich, Marc, 2012. "Regional Income Convergence in Sweden, 1911-2003: A Time Series Analysis," The Journal of Economic Asymmetries, Elsevier, vol. 9(1), pages 67-87.
    • Handle: RePEc:eee:joecas:v:9:y:2012:i:1:p:67-87
    DOI: 10.1016/j.jeca.2012.01.004
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    References listed on IDEAS

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    3. Cletus C. Coughlin & Thomas A. Garrett & Rubén Hernández-Murillo, 2007. "Spatial Dependence in Models of State Fiscal Policy Convergence," Public Finance Review, , vol. 35(3), pages 361-384, May.
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    More about this item

    Keywords

    C32; E10; O40; R00; Regional per-capita income; time series models; β convergence; trend function; serial correlation;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General

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