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Convergence hypothesis of regional income in Korea

Applied Economics Letters, ISSN: 1350-4851, Vol: 12, Issue: 7, Page: 431-435
2005
  • 4
    Citations
  • 0
    Usage
  • 11
    Captures
  • 0
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    4
    • Citation Indexes
      4
  • Captures
    11

Article Description

Using data on per capita income among 13 regions in Korea over the period 1985-2002, regional convergence is evaluated. This study uses panel cointegration tests and a random coefficient model that allows both regional differences and similarities to estimate the Solow growth model. The model also corrects for heteroscedasticity and serial correlation. Evidence is found in favour of regional convergence in Korea, with a rate of convergence of around 8% a year. The results also indicate that the investment rate in physical capital has a significantly positive effect and the population growth has a significantly negative effect on the growth rate of per capita income, holding its initial level constant. © 2005 Taylor & Francis Group Ltd.

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