“In a seminal study, Richardson (1974) examined the determinants of regional growth at the state level, using
gross state product for the period 1955-64 and drawing upon 28 independent variables. The results of this
study were mixed. On the one hand, it was found that per capita income growth, locational preferences,
migration, federal government spending and recreational expenditures have significant positive effect on
growth. Oh the other hand, various plausible variables such as education, scientific and technical personnel,