Andrew T. Young
West Virginia University - Division of Economics and Finance
Matthew John Higgins
Georgia Institute of Technology
Bar-Ilan University - Department of Economics; Emory University - Department of Economics; Rimini Center for Economic Analysis
March 1, 2013
Emory Law and Economics Research Paper No. 07-2
We use U.S. county-level data containing 1,921 cross-sectional observations and up to 29 conditioning variables to estimate heterogeneity in convergence rates across 22 individual U.S. states. Applying GMM estimation, we find significant heterogeneity in the state-level convergence rates. For example, while the average convergence rate is 9.2 percent, the California estimate is 19.9 percent and the New York estimate is 3.3 percent. The estimated convergence rates are essentially uncorrelated with the income levels.
Number of Pages in PDF File: 8
Keywords: Economic Growth, Conditional Convergence, County Level Data, Heterogeneity
JEL Classification: O40, O11, O18, O51, R11, H50, H70working papers series
Date posted: November 29, 2006 ; Last revised: April 11, 2013
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