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Drivers of convergence

Arvanitopoulos, Theodoros, Monastiriotis, Vassilis and Panagiotidis, Theodoros (2020) Drivers of convergence. Urban Studies. ISSN 0042-0980 (In Press)

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Abstract

The analysis of regional convergence often stays at the level of documentation, with limited attention placed on the drivers of convergence/divergence dynamics. This paper offers a systematic analysis of this, examining the role of first-nature (location, proximity, physical geography) and second-nature geography (economic structure, agglomeration, economic potential) in accounting for regional synchronicity in growth trajectories (stochastic convergence). Utilising historical data for Greece at the prefectural level and up-to-date time-series econometric techniques, we test for the presence of stochastic convergence in the country over the last three decades prior to the crisis; identify the pairs of regions which exhibit co-movement in their growth dynamics; and examine the covariates of this. Our results unveil a picture of limited-only and clusterlike convergence, driven predominantly by factors related to accessibility, sectoral specialisations, labour market dynamism, market potential and selected locational characteristics. This supports two propositions: (a) convergence is an endogenous process, related to shared and incongruent characteristics of regions; and, by implication, (b) regional disparities are structural (in the sense that they are linked to economic and spatial structure) and thus require targeted policies in order to be addressed.

Item Type: Article
Official URL: https://journals.sagepub.com/home/usj
Additional Information: © 2020 SAGE
Divisions: European Institute
Subjects: H Social Sciences > HM Sociology
J Political Science > JS Local government Municipal government
Date Deposited: 13 Nov 2020 12:48
Last Modified: 24 Dec 2020 00:20
URI: http://eprints.lse.ac.uk/id/eprint/107438

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