A Test of the Regional Growth-Instability Frontier Using State Data.
The application of the portfolio framework to the economy predicts the existence of a convex growth-instability frontier. Using two data sets on Gross State Product for the states of the United States, this hypothesis is tested. The tests confirm the existence of a convex frontier for economic growt...
| Published in: | Land Economics Vol. 78; no. 3; pp. 442 - 463 |
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| Format: | Article |
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University of Wisconsin Press
August 2002
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| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510241884&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510241884 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00237639 LAE jtl: Land Economics issn: 00237639 maglogo: N pubinfo: dt: August 2002 vid: 78 iid: 3 pid: 249 pub: University of Wisconsin Press artinfo: ui: 510241884 10.2307/3146901 ppf: 442 ppct: 21 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.5MB tig: atl: A Test of the Regional Growth-Instability Frontier Using State Data. aug: au: Chandra, Siddharth su: Community development Mathematical models of economic development History of economic development Rural development Gross state product Mathematical models Stochastic frontier analysis United States sug: subj: United States Community development Mathematical models of economic development History of economic development Rural development Gross state product Mathematical models Stochastic frontier analysis ab: The application of the portfolio framework to the economy predicts the existence of a convex growth-instability frontier. Using two data sets on Gross State Product for the states of the United States, this hypothesis is tested. The tests confirm the existence of a convex frontier for economic growth and instability. The shape of the frontier is estimated, and growth-adjusted measures of economic instability based on the frontier are computed. Over long periods of time, economic instability is negatively correlated with a range of measures of economic diversity, providing further support for the portfolio view of economic growth. (JEL R11) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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