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An Integrative Approach to Measuring Economic Convergence: The Case of the European Union

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Author Info
Kraiwinee Bunyaratavej (Department of Business/Health Administration and Economics, Arcadia University)
Eugene Hahn (Department of Information & Decision Sciences, Salisbury University)
Abstract

Empirical convergence analyses have helped provide insight as to whether economies are converging. Previous works on convergence have tended to focus on a particular economic indicator exclusively, even though the convergence process has multiple components. Improved estimates of convergence are likely to result from an integrated approach wherein several indicators are considered simultaneously. The proposed model integrates convergence analyses for three convergence variables to estimate the overall rate of economic convergence in the EU during 1960 to 1990. The research indicates that convergence is occurring overall, but that employment convergence is happening at a considerably slower pace than are the other types of convergence.

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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1065&context=gej
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Publisher Info
Article provided by International Trade and Finance Association in its journal Global Economy Journal.

Volume (Year): 5 (2007)
Issue (Month): 2 ()
Pages: 8
Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Handle: RePEc:bep:glecon:5:2007:2:8

Note: oai:bepress.com:gej-1065
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Related research
Keywords: Economic Convergence EU Productivity Employment MCMC

References listed on IDEAS
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  1. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July. [Downloadable!] (restricted)
    Other versions:
  2. Esteban, J., 2000. "Regional convergence in Europe and the industry mix: a shift-share analysis," Regional Science and Urban Economics, Elsevier, vol. 30(3), pages 353-364, May. [Downloadable!] (restricted)
  3. Klenow, Peter J. & Rodriguez-Clare, Andres, 1997. "Economic growth: A review essay," Journal of Monetary Economics, Elsevier, vol. 40(3), pages 597-617, December. [Downloadable!] (restricted)
  4. Sala-i-Martin, Xavier X., 1996. "Regional cohesion: Evidence and theories of regional growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1325-1352, June. [Downloadable!] (restricted)
    Other versions:
  5. Lee, K. & Psaran, M.H. & Smith, R., 1995. "Growth and Convergence: A Multi-Country Empirical Analysis of the Solow Growth Model," Cambridge Working Papers in Economics 9531, Faculty of Economics, University of Cambridge.
  6. Efthymios G. Tsionas, 2000. "Productivity Convergence in Europe," Eastern Economic Journal, Eastern Economic Association, vol. 26(3), pages 297-320, Summer. [Downloadable!]
  7. Galli, Rossana, 1997. "Is There Long Run Industrial Convergence in Europe?," International Review of Applied Economics, Taylor and Francis Journals, vol. 11(3), pages 333-68, September.
  8. Gerald A. Carlino, 1992. "Are regional per capita earnings diverging?," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 3-12.
  9. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December. [Downloadable!] (restricted)
  10. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November. [Downloadable!] (restricted)
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This page was last updated on 2008-11-19.


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