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Unequal Global Convergence

Macroeconomics Seminar

Add to calendar 2024-02-28 11:00 2024-02-28 12:15 Europe/Rome Unequal Global Convergence Conference Room Villa La Fonte YYYY-MM-DD


28 February 2024

11:00 - 12:15 CET


Conference Room

Villa La Fonte

In this seminar, Elisa Giannone (UPF and BSE) will present the paper 'Unequal Global Convergence'.

We study the spatial implications of structural transformation and economic growth using a novel dataset on the sub-national GDPs and employment by broad sectors of 687 regions in 34 countries. There has been a slowdown in the convergence rate between regions within countries since 1980. Moreover, the regional convergence process in most countries has stalled since 2010 despite residual spatial inequality. This decline in the rate of regional convergence is related to economic development, specifically to a structural transformation toward services. Globally, services employment exhibits a higher regional concentration than manufacturing and agriculture. Through the lens of a spatial model that features geographic mobility and agglomeration, we argue for a new role of structural change in spatial development. As an economy transforms toward services, economic activity becomes spatially concentrated, and regional convergence declines. This, in turn, accelerates global economic inequality and structural transformation toward services.

Co-authors: Shoumitro Chatterjee, Tatjana Kleineberg, Kan Kuno


Elisa Giannone (UPF, BSE)

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