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Convergence clubs in the regions of Greece

Stilianos Alexiadis and J. Tomkins

Applied Economics Letters, 2004, vol. 11, issue 6, 387-391

Abstract: Although there have been numerous studies on economic convergence, at both national and regional levels, the concept of club convergence has received far less attention. A convergence club implies the existence of a set of economies that in the long run are driven to a common steady-state position. This study contributes to the empirical literature on Greek regions by testing for the existence of a convergence club over the period 1970-2000. Time series techniques and two empirical approaches to the common convergence point are employed. Results suggest that, while there is no uniform pattern across all regions, four central regions follow a common convergence path. One important conclusion also to emerge from the study is that, in the case of Greece, a measure of average economic performance as a proxy for the steady-state convergence point would appear to be more appropriate when seeking to identify the members of a convergence club.

Date: 2004
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DOI: 10.1080/1350485042000228259

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