Regional Convergence in Italy: 1951-2000

Claudio Morana

Giornale degli Economisti, 2004, vol. 63, issue 2, 139-160

Abstract: In the paper we assess the convergence hypothesis for the Italian economy over the period 1951-2000, using a new methodological approach. The approach is based on a two-step recursive principal components estimator, allowing to monitor the progress of the convergence process over time and to distinguish between steady-state and transitional dynamics. The overall conclusions of our work are in favour of a two-speed unconditional convergence process in per capita GDP across Italian regions, occurring at a slow pace and not monotonically.

Keywords: convergence; economic growth (search for similar items in EconPapers)
JEL-codes: C32 O11 (search for similar items in EconPapers)
Date: 2004
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