Paths to Prosperity: Knowledge is Key for Fourth District States
This analysis examines the links between state knowledge capital and per capita personal income in Ohio, Pennsylvania, West Virginia, and Kentucky. Its results reveal that large differences in state income levels are primarily associated with the variation in the
states’ knowledge-building activities of education and patenting. The authors also suggest that having a larger manufacturing base has not reliably led to higher incomes.
Link
http://www.clevelandfed.org/Research/Com2006/0815.pdf