A Simultaneous Spatial Panel Data Model of Regional Growth Variation: An Empirical Analysis of Employment, Income, Migration and Local Public Services

摘要: In this paper we develop a spatial panel simultaneous-equations model of employment growth, migration behavior, local public services and median household income in partial lag-adjustment growth-equilibrium framework utilizing one-way error component for the disturbances. To estimate model, developed five-step new estimation strategy by generalizing Generalized Spatial Three-Stage Least Squares (GS3SLS) approach outlined Kelejian Prucha (2004) into data setting. The empirical implementation uses county-level from 418 Appalachian counties 1980-2000. estimates show existence feedback simultaneities among endogenous variables conditional convergence with respect to respective variable each equation autoregressive lag effects cross-regressive model. Moreover, speed adjustment parameters is generally comparable those literature. One key conclusions that sector-specific policies should be integrated harmonized order give desirable outcome. addition, regionally focusing resources development policy may yield greater returns than treating all locations same.