Does the business cycle matter for convergence testing? Evidence from U.S. commuting zone level data, 1973-2007
Yu, Chenxi
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https://hdl.handle.net/2142/29734
Description
Title
Does the business cycle matter for convergence testing? Evidence from U.S. commuting zone level data, 1973-2007
Author(s)
Yu, Chenxi
Issue Date
2012-02-06T20:13:39Z
Director of Research (if dissertation) or Advisor (if thesis)
Hewings, Geoffrey J.D.
Department of Study
Urban & Regional Planning
Discipline
Regional Planning
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
M.U.P.
Degree Level
Thesis
Keyword(s)
convergence
divergence
normal growth period
recession-recovery period
business /innovation cycle
spatial spillover
Abstract
This research investigated regional growth patterns under different economic environments. Based on the varying innovation capacities that occur at different stages of the business cycle, I hypothesize that in the more advanced stages of regional development, regional income inequality increases during a normal growth period and decreases during a recession-recovery period. I tested this hypothesis with U.S. per capita income data from 1973 to 2007. This study found evidence supporting the hypothesis: under normal growth periods, regional convergence rate is lower; while during recession-recovery periods, regional convergence rate is higher. This study also found that the overall trend of the convergence rate was decreasing.
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