Knowledge externalities, spatial dependence, and metropolitan economic growth in the United States

My purpose in this paper is to investigate the extent to which metropolitan economic growth is related to various types of knowledge externalities in high-technology industries in metropolitan areas for the period 1990-1999. The empirical results indicate the relative importance of the effects of high-technology specialisation externalities on metropolitan economic growth. In this paper I also find positive and highly significant evidence of spatial dependence in metropolitan economic growth. This finding suggests that spatial spillover effects in metropolitan economic growth transcend metropolitan boundaries. From the convergence point of view, I have not found significant evidence of absolute convergence for the period. However, after controlling for structural characteristics determining metropolitan economic growth, I have found significant evidence of convergence for the period.