Analysis of club convergence in the U.S. after the Great Recession

  1. María C Barrios González 1
  2. Heather L.R. Tierney 2
  3. Myeong Hwan Kim 2
  1. 1 Universidad de La Laguna
    info

    Universidad de La Laguna

    San Cristobal de La Laguna, España

    ROR https://ror.org/01r9z8p25

  2. 2 Indiana University – Purdue University Fort Wayne
    info

    Indiana University – Purdue University Fort Wayne

    Fort Wayne, Estados Unidos

    ROR https://ror.org/01jxzq227

Revista:
Economics Bulletin

ISSN: 1545-2921

Año de publicación: 2023

Volumen: 43

Número: 2

Páginas: 842-854

Tipo: Artículo

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Otras publicaciones en: Economics Bulletin

Resumen

This paper examines club convergence using per capita real state domestic product and three technological variables, which are patents, research and development, and bachelor's degrees in science and engineering in the 50 states of the U.S. as it exits the Great Recession. This study finds the states that are in higher clubs with respect to per capita real state domestic product also ranks higher in the technological clubs, which is in keeping with clustering around different steady-state equilibria. In terms of policy implications, this paper also finds there to be a more direct nonrandom, statistically significant association between per capita real state domestic product and research and development, and bachelor's degrees in science and engineering and an indirect association with patents.