Interest rates and convergence across Italian regions
Alberto Montagnoli () and
Oreste Napolitano ()
Authors registered in the RePEc Author Service: David Neden King ()
No 2009-13, Stirling Economics Discussion Papers from University of Stirling, Division of Economics
The purpose of this paper is to investigate the evidence for economic convergence across Italian regions using trends in interest rate spreads and premia as indicators of regional credit conditions. Our results indicate the presence of persistent interest rate differentials, and thus an absence of convergence across the twenty political regions, but we observe a high degree of convergence within the four macroeconomic areas. On the other hand we find evidence of a strong level of homogeneity in credit conditions within each of the four macroeconomic regions.
Keywords: interest rates; unit root; panel data; convergence; Italy (search for similar items in EconPapers)
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Journal Article: Interest Rates and Convergence across Italian Regions (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:stl:stledp:2009-13
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