US regional income convergence: A spatial econometric perspective

Sergio J. Rey; Brett D. Montouri

doi:10.1080/00343409950122945

US regional income convergence: A spatial econometric perspective

Sergio J. Rey, Brett D. Montouri

Arizona State University

Research output: Contribution to journal › Article › peer-review

601 Scopus citations

Abstract

US regional income convergence: a spatial econometric perspective, Reg. Studies 33, 143-156. This study reconsiders the question of US regional economic income convergence from a spatial econometric perspective. Recently developed methods of exploratory spatial data analysis provide new insights on the geographical dynamics of US regional income growth patterns over the 1929-94 period. Strong patterns of both global and local spatial autocorrelation are found throughout the study period, and the magnitude of global spatial autocorrelation is also found to exhibit strong temporal co-movement with regional income dispersion. A spatial econometric analysis of the familiar Baumol specification reveals strong evidence of misspecification due to ignored spatial error dependence. Because of this dependence, shocks originating in one state can spillover into surrounding states, potentially complicating the transitional dynamics of the convergence process.

Original language	English (US)
Pages (from-to)	143-156
Number of pages	14
Journal	Regional Studies
Volume	33
Issue number	2
DOIs	https://doi.org/10.1080/00343409950122945
State	Published - Apr 1999

Keywords

Exploratory spatial data analysis
Regional income convergence
Spatial econometrics

ASJC Scopus subject areas

General Environmental Science
General Social Sciences

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10.1080/00343409950122945

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title = "US regional income convergence: A spatial econometric perspective",

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AB - US regional income convergence: a spatial econometric perspective, Reg. Studies 33, 143-156. This study reconsiders the question of US regional economic income convergence from a spatial econometric perspective. Recently developed methods of exploratory spatial data analysis provide new insights on the geographical dynamics of US regional income growth patterns over the 1929-94 period. Strong patterns of both global and local spatial autocorrelation are found throughout the study period, and the magnitude of global spatial autocorrelation is also found to exhibit strong temporal co-movement with regional income dispersion. A spatial econometric analysis of the familiar Baumol specification reveals strong evidence of misspecification due to ignored spatial error dependence. Because of this dependence, shocks originating in one state can spillover into surrounding states, potentially complicating the transitional dynamics of the convergence process.

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US regional income convergence: A spatial econometric perspective

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