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Growth and Convergence across the United States: Evidence from County-Level Data

Matthew Higgins (), Daniel Levy () and Andrew T. Young

EconStor Open Access Articles and Book Chapters, 2006, 671-681

Abstract: We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using ordinary least squares (OLS) and three-stage least squares with instrumental variables (3SLS-IV), we report on the full sample and metro, nonmetro, and and regional samples: (1) OLS yields convergence rates around 2%; 3SLS yields 6%–8%; (2) convergence rates vary (for example, the Southern rate is 2.5 times the Northeastern rate); (3) federal, state, and local government negatively correlates with growth; (4) the relationship between educational attainment and growth is nonlinear; and (5) the finance, insurance, and real estate industry and the entertainment industry correlate positively with growth, whereas education employment correlates negatively.

Keywords: Economic Growth; Conditional Convergence; and County-Level Data (search for similar items in EconPapers)
JEL-codes: H50 H70 O11 O18 O40 O51 R11 (search for similar items in EconPapers)
Date: 2006
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Journal Article: Growth and Convergence across the United States: Evidence from County-Level Data (2006) Downloads
Working Paper: Growth and Convergence across the United States: Evidence from County-Level Data (2006) Downloads
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