PFM Articles 
Convergence of Public Capital Investment Among the United States, 1977-1996
CHRIS ANNALA AND STEPHEN J. PEREZ
PFM, Vol. 1 No. 2,
(2001)
In recent years there has been a significant amount of research on
the issue of income convergence between nations. There have also been
several studies examining income convergence among the United States.
This paper examines convergence in public capital investment among the
fifty United States from 1977-1996. We find significant evidence that public
capital investment has converged over this time period in terms of both
absolute and conditional convergence.
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