Measuring the regional productivity convergence- An application of Markov chain model -

다국어 초록 (Multilingual Abstract)

Most studies have concentrated on the question of convergence of GDP per capita. Although GDP is the aggregate value added from a variety of regions, few studies have focused on the question of convergence of labor productivity at the disaggregated level of regions. This monograph studies the question of convergence of labor productivity at the disaggregated level of regions in Korea. The matrix of transition probabilities is used for this analysis, instead of the so-called Barro regression that is very often used in studies of convergence. Testing for convergence in Korea's 16 regions, the results of this research study indicate that regions have a variety of ergodic distributions of labor productivity. Very interesting evidence was also found, indicating that regions with relatively high labor productivity will have a bipolar distribution of labor productivity. Of course, more evidence needs to be accumulated in order to argue that this phenomenon is universal.

참고문헌 (Reference)

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