Economic Convergence in EU NUTS 3 Regions: A Spatial Econometric Perspective
Paolo Postiglione (),
Alfredo Cartone () and
Domenica Panzera ()
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Alfredo Cartone: Department of Economic Studies, “G. d’Annunzio” University of Chieti-Pescara, 4265127 Viale Pindaro, Italy
Domenica Panzera: Department of Economic Studies, “G. d’Annunzio” University of Chieti-Pescara, 4265127 Viale Pindaro, Italy
Sustainability, 2020, vol. 12, issue 17, 1-17
The topic of economic convergence is still crucial in the European Union (EU) as promoting regional growth and the reduction of disparities remains a key objective. In this paper we investigate development and economic growth across EU regions. Particular attention is given to σ -convergence and β -convergence. These analyses are carried out for regional units corresponding to the third level of the NUTS (Nomenclature of Territorial Units for Statistics) classification. Focusing on a refined geographical scale could offer a detailed picture of the regional growth dynamics within the EU. Additionally, we use a spatial augmented version of the conditional β -convergence model to take into account the spatial interdependencies among regions. Findings shed light on the impact of spatial interaction effects and on the need of territorial policies to achieve convergence in the EU. This aspect highlights how coordinating the regional development policies between regions is pivotal to achieve economic, as well as social and political stability within the EU.
Keywords: economic growth; conditional convergence; inequality; spatial effects; NUTS 3 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:17:p:6717-:d:400995
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