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The purpose of this paper is to test regional convergence and to investigate interregional disparities in terms of per capita income in Greece. The novelty of our study lies in the use of a disaggregated dataset for an extended time period (1971–2003) at two regional levels (NUTS II & NUTS III). Our results indicate that there is β convergence between prefectures but not among regions, while no evidence of σ convergence is found at both regional levels. Also, the GDP geographic concentration and population density have a negative impact on growth, which outweighs the positive growth effect of population geographic concentration and GDP spatial inequality. Thus, policies aiming at the decentralization of economic activity in Greece might enhance growth and regional equality simultaneously. Finally, we do not find economic dualism across geographic areas; however, rich prefectures seem to converge faster than poor ones. [ABSTRACT FROM AUTHOR]

This paper identifies the major factors explaining GDP growth in a number of Southeast Asian countries during the 1980s and early 90s. Estimates of the contribution of technological change, increases in the endowments of labor and capital, movements in the terms of trade, and changes in domestic output prices are reported for Hong Kong, Japan, South Korea, the Philippines, and Thailand. Partial results for Indonesia and Malaysia are also shown. An index number approach is used; it has a tight theoretical foundation being based on the GNP/GDP function approach to modeling the production sector of an open economy. [ABSTRACT FROM AUTHOR]

The article offers an outlook for the world economy. It is expected that the impact on global growth would be modest, given the limited decline in equity markets. The U.S. housing sector has worsened and set to remain a drag on the overall growth. Based on data on employment and consumption, resilience is seen in the wake of the crisis. The cost of borrowing for firms and consumers have been driven by the repricing of risk and the liquidity squeeze in money markets. Meanwhile, gross domestic product growth in the Eurozone was disappointing at 0.3%.