Working Paper ()
Dow S, Montagnoli A & Napolitano O (2009) Interest rates and convergence across Italian regions. Stirling Economics Discussion Paper, 2009-13.
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.
interest rates; unit root; panel data; convergence; Italy
Economics; Finance Italy; Interest rates Italy Econometric models; Interest rates Italy
C23; E43; R11; R15
|Authors||Dow Sheila, Montagnoli Alberto, Napolitano Oreste|
|Title of series||Stirling Economics Discussion Paper|
|Number in series||2009-13|