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CLUB CONVERGENCE ACROSS INDIAN STATES: AN EMPIRICAL ANALYSIS

ARFAT AHMAD SOFI|S. RAJA SETHU DURAI
경제연구소 (Hanyang Economic Research Institute)|2015.12|Journal of Economic Development|제40권 제4호|pp. 107-124|DOI 10.35866/caujed.2015.40.4.005

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참고문헌

키워드

IndiaGrowthClub ConvergenceSpatial InteractionPair Wise
주제분류경제학

초록

This study evaluates the Pair-wise approach (Pesaran, 2007) and Spatial Interaction Models to examine the income convergence across 22 Indian States from 1981-82 to 2010-11. Our findings identify a small number of pairs that support income convergence; however, overall there is no evidence of club convergence in Indian states. While considering these pairs as a measure of neighborliness in spatial models, there are evidences of convergence with significant spatial interaction that provides two inferences. First, a transitional behavior of Indian states towards higher steady state is evident and second, using only geographic boundary as a measure of neighborliness can underestimate the spatial interaction in a highly technologically connected world.

Abstract

This study evaluates the Pair-wise approach (Pesaran, 2007) and Spatial Interaction Models to examine the income convergence across 22 Indian States from 1981-82 to 2010-11. Our findings identify a small number of pairs that support income convergence; however, overall there is no evidence of club convergence in Indian states. While considering these pairs as a measure of neighborliness in spatial models, there are evidences of convergence with significant spatial interaction that provides two inferences. First, a transitional behavior of Indian states towards higher steady state is evident and second, using only geographic boundary as a measure of neighborliness can underestimate the spatial interaction in a highly technologically connected world.

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