Income distribution dynamics among Italian provinces. The role of Bank Foundations |
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Authors: | Giorgio Calcagnini |
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Institution: | Department of Economics, Society and Politics, Università di Urbino Carlo Bo, Urbino, Italy |
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Abstract: | This paper investigates the convergence process and the distribution dynamics of income among Italian NUTS-3 provinces between 2003 and 2011. Findings show the existence of multiple steady-state equilibria which is consistent with the well-documented persistence in income disparities among Italian provinces. The role of grant-making activities by Bank Foundations is assessed on a conditioning scheme. Results suggest that Bank Foundations can affect the shape of the distribution of income and, in the long run, reduce polarization with a tendency for income to collapse towards a unimodal distribution. |
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Keywords: | Income convergence distribution dynamics Italian provinces Bank Foundations |
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