Research output

Working Paper ()

Interest rates and convergence across Italian regions

Citation
Dow S, Montagnoli A & Napolitano O (2009) Interest rates and convergence across Italian regions. Stirling Economics Discussion Paper, 2009-13.

Abstract
The purpose of this paper is to investigate the evidence for economic convergence across Italian regions using trends in interest rate spreads and premia as indicators of regional credit conditions. Our results indicate the presence of persistent interest rate differentials, and thus an absence of convergence across the twenty political regions, but we observe a high degree of convergence within the four macroeconomic areas. On the other hand we find evidence of a strong level of homogeneity in credit conditions within each of the four macroeconomic regions.

Keywords
interest rates; unit root; panel data; convergence; Italy

Subject headings
Economics; Finance Italy; Interest rates Italy Econometric models; Interest rates Italy

JEL codes
C23; E43; R11; R15

StatusUnpublished
AuthorsDow Sheila, Montagnoli Alberto, Napolitano Oreste
Title of seriesStirling Economics Discussion Paper
Number in series2009-13
Publication date05/2009
LanguageEnglish
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