Exploring the Determinants of Productivity Growth in Italian Regions: a Kaldorian Perspective
Matteo Deleidi (),
Walter Paternesi Meloni,
Luigi Salvati and
No 51, Working Papers from ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro
The promotion of regional convergence is at the heart of the European cohesion policy,although how to stimulate it still is a debated question in the economic theory. Endorsing a Kaldorian perspective, we investigate the determinants of labour productivity in Italian regions by applying Panel Structural VAR modelling to 1981-2013 data. By esplicitly considering the endogeneity among the studied variables, we find that labour productivity is stimulated by output growth and capital accumulation. Our findings bear important implications in terms of policy advice, leading to the conclusion that considerable public investment is necessary to stimulate economic growth and productivity especially in economically depressed areas, like the Italian Mezzogiorno.
Keywords: Labour productivity; Technical progress; Investment; Regional differentials; Panel SVAR (search for similar items in EconPapers)
JEL-codes: C33 O18 O47 R11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff, nep-eur, nep-geo, nep-sbm and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ast:wpaper:0051
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