Provincial Growth Factor Determinants and Convergence: Evidence from Nine Provinces in Lower Northern Thailand
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This study aims to discover the main factors that drive cross-provincial economic linkages, focusing on nine provinces in the lower northern part of Thailand. Using Solow model (1956), this involves analyzing the convergence patterns of per capital income levels and examining the core industrial clusters within this region. The findings indicate that the key drivers of economic growth in nine provinces are loans, urbanization, and labor force. Tourism spending and government expenditure are also significant but their effects are currently subtle. The analysis of economic convergence across the region confirms that integration of government policy enables the improvement of economic development within the nine provinces in accordance with the selected cluster groups for goods and services.
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