Regional disparities in the spatial correlation of state income growth
By: by Thomas A. Garrett, Gary A. Wagner, and David C. Wheelock.
Contributors: Wagner, Gary A.; Wheelock, David C.; Federal Reserve Bank of St. Louis.
Series: Working paper ;; 2005-061A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2005-061A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2005
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Economic indicators -- United States -- States.; Income -- United States -- Regional disparities.
Description: "This paper presents new evidence of spatial correlation in U.S. state income growth.  We extend the basic spatial econometric model used in the growth literature by allowing spatial correlation in state income growth to vary across geographic regions.  We find positive spatial correlation in income growth rates across neighboring states, but that the strength of this spatial correlation varies considerably by region.  Spatial correlation in income growth is highest for states located in the Northeast and the South.  Our findings have policy implications both at the state and national level, and also suggest that growth models may benefit from incorporating more complex forms of spatial correlation"--Federal Reserve Bank of St. Louis web site.
Notes: Includes bibliographical references.
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