Long-run development of a multi-regional economy |
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Authors: | Takao Fukuchi |
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Affiliation: | (1) Department of Management Science, Asahi University, Gifu 501-02, Japan (e-mail: fukuchi@alice.asahi-u.ac.jp), JP |
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Abstract: | This article analyses models of a multi-regional economy with n regions and m factors, with a Cobb-Douglas or CES production function, and with or without economies of scale and Hicks-neutral technological
progress, in which factors are imperfectly mobile as described by a revised gravity model. The article clarifies the incidence
of interregional factor mobility, conditions of convergence of interregional per-capita income, the long-run equilibrium regional
shares of factors and of income, and the convergence speed. The results are further generalised by explicitly introducing
interregional distances.
Received: 18 August 1997 / Accepted: 29 January 1999 |
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Keywords: | JEL classification:O18 R11 R12 |
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