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Are the Portuguese Regions Converging to a Single Steady State?

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  • Jorge Andraz
  • Nelia Norte

Abstract

This paper is concerned with examining the economic performance of the Portuguese regions Nuts III. In particular, it seeks to present empirical evidence about the degree of convergence in their economic performance since 1990 when regions became the recipients of the European Community Structural Funds. Panel data regressions are estimated and the results suggest structural differences among regions leading to the existence of different steady state levels of income. Moreover, regions are converging to different steady states at an annual rate of 2.15%. As a corollary, results suggest that national policies, while contributing to improving the country's living standards relative to the European average, might not have been able to achieve the economic cohesion of the country.

Suggested Citation

  • Jorge Andraz & Nelia Norte, 2010. "Are the Portuguese Regions Converging to a Single Steady State?," International Economic Journal, Taylor & Francis Journals, vol. 24(3), pages 317-327.
    • Handle: RePEc:taf:intecj:v:24:y:2010:i:3:p:317-327
    DOI: 10.1080/10168737.2010.503460
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    References listed on IDEAS

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    1. Steven N. Durlauf & Paul A. Johnson, 1992. "Local Versus Global Convergence Across National Economies," NBER Working Papers 3996, National Bureau of Economic Research, Inc.
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    1. Matias, Fernanda & Serrasqueiro, Zélia, 2017. "Are there reliable determinant factors of capital structure decisions? Empirical study of SMEs in different regions of Portugal," Research in International Business and Finance, Elsevier, vol. 40(C), pages 19-33.

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