Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/206843
Authors: 
Higgins, Matthew J.
Levy, Daniel
Young, Andrew T.
Year of Publication: 
2006
Citation: 
[Journal:] Review of Economics and Statistics [ISSN:] 1530-9142 [Volume:] 88 [Issue:] 4 [Pages:] 671-681
Abstract: 
We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using ordinary least squares (OLS) and three-stage least squares with instrumental variables (3SLS-IV), we report on the full sample and metro, nonmetro, and and regional samples: (1) OLS yields convergence rates around 2%; 3SLS yields 6%–8%; (2) convergence rates vary (for example, the Southern rate is 2.5 times the Northeastern rate); (3) federal, state, and local government negatively correlates with growth; (4) the relationship between educational attainment and growth is nonlinear; and (5) the finance, insurance, and real estate industry and the entertainment industry correlate positively with growth, whereas education employment correlates negatively.
Subjects: 
Economic Growth
Conditional Convergence
and County-Level Data
JEL: 
O40
O11
O18
O51
R11
H50
H70
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)

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