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testing regional convergence in iran''s evonomy

نویسنده:

(18 صفحه - از 103 تا 120)

Convergence hypothesis is one of the results of neoclassical growth model, which has been examined recently. This hypothesis has two forms of absolute and conditional Beta-convergence and implies that regions with lower per capita output have higher per capita growth rates. Since there is no data for regional GDP in Iran, there has been no study to test convergence hypothesis in Iran. Our main contribution in this paper is testing convergence by using the data of demand deposits of Iran''''s provinces and examining convergence in per capita demand deposits on the base of endogenous demand deposits creation theory in real business cycles approach. Our empirical results have provided some support for Beta-convergence in Iran''''s regional growth when OLS is used. But our results do not support Sigma-convergence or decrease in regional inequality.

خلاصه ماشینی:

"This hypothesis has two forms of absolute and conditional Beta-convergence and implies that regions with lower per capita output have higher per capita growth rates. Our main contribution in this paper is testing convergence by using the data of demand deposits of Iran''''s provinces and examining convergence in per capita demand deposits on the base of endogenous demand deposits creation theory in real business cycles approach. 2- The Model Since many studies have analyzed Beta-convergence within the neoclassical context and especially as a feature of neoclassical growth model (for example, Barro and Sala-i-Martin (1990, 1991, and 1995), Swaine (1998), Pontes (2000), Hossain (2000), Mankiw, Romer and Weil (1992), and so on) and since there has not been any study about convergence in Iran''''s regional growth and development, we focus on the neoclassical growth model as the first study in this field. However, Quah(1993) has called tests of convergence hypothesis Galton''''s fallacy and has shown that finding Beta-convergence does not necessarily imply Sigma-convergence; that is, it can be found that average per capita GDP growth rate is an inverse function of initial per capita GDP at the same time that there is no trend in regional distribution of income. Andres and Bosca (2000) studied the homogeneity of the technological parameters among the OECD countries, which is a presumption of empirical literature of neoclassical growth model and especially Beta-convergence. Our empirical results provide some support for Beta-convergence because provinces with lower per capita demand deposits have higher growth rates of per capita demand deposits, but only when OLS is used."

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