Regional economy and inefficiency: a theoretical model to explain inequalities
DOI:
https://doi.org/10.5007/2175-8085.2024.e104293Palabras clave:
Regional Economy, Productivity, Efficiency, Inequality, Theoretical ModelResumen
This paper seeks to develop a theoretical model in which regional inequality results from relative inefficiency. To this end, we explore the differences between economic units observed and ideal productivity. This work is based on misallocation and economic growth models, emphasizing Lucas (1978). The main conclusions are: i) It is essential to control productive heterogeneity to prevent bias in the results. ii) There is a strong relationship between efficiency and productivity. iii) Resources are concentrated in regions with higher efficiency. iv) Efficiency and productivity are sources of regional inequalities. v) efficiency improvements generate long-term income equality.
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