EU Growth, Convergence and the Knowledge Economy: An Empirical Investigation

H. Caraveli, Mike Tsionas and J. Darzentas

The Journal of Economic Asymmetries, 2008, vol. 5, issue 2, 105-124

Abstract: This paper examines whether the ‘knowledge' economy could contribute to reversing the existing ‘centre-periphery' pattern in the EU, through its impact on growth. Using a neoclassical growth framework, we test for β - convergence in 205 EU regions on a cross-sectional basis. The impact of knowledge variables on growth is assessed. The empirical results reveal a limited degree of convergence and a positive impact of most knowledge variables on growth. The convergence pattern does not change when a ‘group convergence' approach is attempted. The findings are finally interpreted from a ‘new economic geography' perspective in an attempt to draw policy implications.

Keywords: C21; R11; R12; R14; New growth models; β -convergence; Knowledge economy; New economic geography; EU regional disparities; EU regional policy (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecas:v:5:y:2008:i:2:p:105-124

DOI: 10.1016/j.jeca.2008.02.007

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