Income distribution dynamics among Italian provinces. The role of Bank Foundations

Giorgio Calcagnini and Francesco Perugini

Applied Economics, 2019, vol. 51, issue 29, 3198-3211

Abstract: This paper investigates the convergence process and the distribution dynamics of income among Italian NUTS-3 provinces between 2003 and 2011. Findings show the existence of multiple steady-state equilibria which is consistent with the well-documented persistence in income disparities among Italian provinces. The role of grant-making activities by Bank Foundations is assessed on a conditioning scheme. Results suggest that Bank Foundations can affect the shape of the distribution of income and, in the long run, reduce polarization with a tendency for income to collapse towards a unimodal distribution.

Date: 2019
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DOI: 10.1080/00036846.2019.1572866

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