Although it is well known that Markov process theory, frequently applied in the literature on income convergence, imposes some very restrictive assumptions upon the data generating process, these assumptions have generally been taken for granted so far. The present paper proposes, resp. recalls...

This paper establishes eight stylized facts on the evolution of the localization of economic activity across industries and regions in the EU-15 since 1980. Localization, which nests concentration and specialization, is measured by a Theil index. The stylized facts reveal a broad aggregate trend...