Convergence and public investment: Regional policies revisited

Santiago Lago-Peñas and Diego Martínez

No E2005/05, Economic Working Papers at Centro de Estudios Andaluces from Centro de Estudios Andaluces

Abstract: The aim of this paper is to add new arguments to the debate on the redesign of regional policies. An endogenous growth model is presented with two regions where the crucial issue for the removal of regional disparities is public investment. When testing the model using data obtained from Spanish regions, evidence of convergence is not found, in spite of the redistribution pattern of regional allocation of public investment during the 80's and 90's and a high degree of private capital mobility. After analyzing other factors potentially affecting regional convergence, a number of recommendations are supplied in order to redefine European and Spanish regional policies.

Keywords: Infrastructures; convergence; growth (search for similar items in EconPapers)
JEL-codes: H54 R58 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2005
New Economics Papers: this item is included in nep-geo and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:cea:doctra:e2005_05

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