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Empirical Measures of Regional Convergence

In: Convergence Clubs and Spatial Externalities

Author

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  • Stilianos Alexiadis

    (Ministry of Rural Development and Foods)

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.

Suggested Citation

  • Stilianos Alexiadis, 2012. "Empirical Measures of Regional Convergence," Advances in Spatial Science, in: Convergence Clubs and Spatial Externalities, edition 127, chapter 0, pages 89-117, Springer.
    • Handle: RePEc:spr:adspcp:978-3-642-31626-5_5
    DOI: 10.1007/978-3-642-31626-5_5
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