NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Growth in Regions

Nicola Gennaioli, Rafael La Porta, Florencio Lopez de Silanes, Andrei Shleifer

NBER Working Paper No. 18937
Issued in April 2013
NBER Program(s):   EFG

We use a newly assembled sample of 1,503 regions from 82 countries to compare the speed of per capita income convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and human capital. Regional convergence is about 2.5% per year, not more than 1% per year faster than convergence between countries. Regional convergence is faster in richer countries, and countries with better capital markets. A calibration of a neoclassical growth model suggests that significant barriers to factor mobility within countries are needed to account for the evidence.

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Document Object Identifier (DOI): 10.3386/w18937

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