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Interest Rates and Convergence across Italian Regions

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  • Sheila Dow
  • Alberto Montagnoli
  • Oreste Napolitano
Abstract
Dow S., Montagnoli A. and Napolitano O. Interest rates and convergence across Italian regions, Regional Studies . 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. The results indicate the presence of persistent interest rate differentials, and thus an absence of convergence across the twenty political regions, but a high degree of convergence is observed within the four macroeconomic areas. Dow S., Montagnoli A. and Napolitano O. 意大利区域的利息率与收敛，区域研究。使用利率差以及风险溢价作为区域信用状况 的指标，本文考察了意大利区域经济收敛相关的证据。结果表明存在着持续的利率差 ，也因此在20个政区之 间没有出现经济收敛，但在四个宏观经济区之间发现了了较高程度的经济收敛。 利率 单根 面板数据 收敛 意大利 Dow S., Montagnoli A. et Napolitano O. Les taux d'int�rêt et la convergence à travers les r�gions italiennes, Regional Studies . A partir des tendances des marges d'int�rêt sur les cr�dits et des primes sur les taux d'int�rêt comme indicateurs des conditions de cr�dit r�gionales, cet article cherche à examiner les raisons en faveur de la convergence à travers les r�gions italiennes. Les r�sultats laissent voir la pr�sence des diff�rentiels de taux d'int�rêt et, par la suite, un manque de convergence à travers les vingt r�gions administratives, mais on constate un niveau �lev� de convergence au sein des quatre zones macro-�conomiques. Taux d'int�rêt Racine unitaire Echantillon permanent Convergence Italie Dow S., Montagnoli A. und Napolitano O. Zinssätze und Konvergenz in italienischen Regionen, Regional Studies . In diesem Beitrag untersuchen wir anhand der Trends bei den Zinsspannen und Prämien als Indikatoren der regionalen Kreditbedingungen die Belege für eine wirtschaftliche Konvergenz in den italienischen Regionen. Die Ergebnisse lassen auf die Präsenz von persistierenden Differenzialen bei den Zinssätzen und somit auf die Abwesenheit einer Konvergenz innerhalb der 20 politischen Regionen schließen, wohingegen innerhalb der vier makroökonomischen Gebiete ein hohes Maß an Konvergenz beobachtet wird. Zinssätze Einheitswurzel Paneldaten Konvergenz Italien Dow S., Montagnoli A. y Napolitano O. Tipos de inter�s y convergencia en las regiones italianas, Regional Studies . La finalidad de este art�culo es investigar las evidencias de la convergencia económica en las regiones italianas a partir de las tendencias en los diferenciales del tipo de inter�s y las primas como indicadores de las condiciones del cr�dito regional. Los resultados indican la presencia de diferenciales persistentes del tipo de inter�s y, por tanto, una ausencia de convergencia en las veinte regiones pol�ticas, aunque se observa un alto grado de convergencia en las cuatro áreas macroeconómicas. Tipos de inter�s Ra�z unitaria Datos de panel Convergencia Italia

Suggested Citation

  • Sheila Dow & Alberto Montagnoli & Oreste Napolitano, 2012. "Interest Rates and Convergence across Italian Regions," Regional Studies, Taylor & Francis Journals, vol. 46(7), pages 893-905, October.
    • Handle: RePEc:taf:regstd:v:46:y:2012:i:7:p:893-905
    DOI: 10.1080/00343404.2010.536760
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    2. Handler, Heinz, 2013. "The eurozone: piecemeal approach to an optimum currency area," MPRA Paper 67183, University Library of Munich, Germany.
    3. David Bailey & Lisa de Propris, 2014. "Editorial: Recession, Recovery and Resilience?," Regional Studies, Taylor & Francis Journals, vol. 48(11), pages 1757-1760, November.
    4. Sheila Dow, 2016. "Ontology and Theory for a Redesign of European Monetary Union," World Economic Review, World Economics Association, vol. 2016(6), pages 1-1, February.
    5. Giannola, Adriano & Petraglia, Carmelo & Scalera, Domenico, 2016. "Net fiscal flows and interregional redistribution in Italy: A long-run perspective (1951–2010)," Structural Change and Economic Dynamics, Elsevier, vol. 39(C), pages 1-16.
    6. Kounetas, Kostas & Napolitano, Oreste, 2018. "Modeling the incidence of international trade on Italian regional productive efficiency using a meta-frontier DEA approach," Economic Modelling, Elsevier, vol. 71(C), pages 45-58.
    7. Kounetas, Kostas & Napolitano, Oreste, 2015. "Too much EMU? An investigation of technology gaps," MPRA Paper 67600, University Library of Munich, Germany.
    8. Claudio Barbieri & Mattia Guerini & Mauro Napoletano, 2021. "The Anatomy of Government Bond Yields Synchronization in the Eurozone," LEM Papers Series 2021/07, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    9. Bernardina Algieri & Antonio Aquino & Lidia Mannarino, 2018. "Non-Price Competitiveness and Financial Drivers of Exports: Evidences from Italian Regions," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 4(1), pages 107-133, March.
    10. Sławomir Pastuszka & Jurand Skrzypek, 2017. "Konwergencja czy dywergencja regionów włoskich?," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 101-130.
    11. Luca Salvati & Margherita Carlucci & Giuseppe Venanzoni, 2017. "Recession, resilience, local labour markets: wealthier is better?," Letters in Spatial and Resource Sciences, Springer, vol. 10(2), pages 177-204, July.

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