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Accession trajectories and convergence: endogenous growth perspective

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  • Kejak, Michal
  • Seiter, Stephan
  • Vavra, David

Abstract

In this paper we analyze qualitatively and quantitatively the potential effect of the EU accession on the development of several Central and Eastern European (CEE)countries (specifically, the Czech Republic, Hungary, and Poland). To achieve the task we design a small open economy version of the two-sector endogenous growth model of the Uzawa-Lucas style with knowledge diffusion. The model is first calibrated and validated to stylized facts of the economic development during the accession process in the EU periphery countries. We then calibrate the model according to the data on the CEE countries above and simulate their behavior using alternative scenarios in several dimensions. The interplay of various initial conditions and the parameters of the accession generate different accession patterns and also rather different speeds of convergence to the EU average. The model outcomes do not only provide us with these quantitative estimates but also improve our understanding of the economic mechanisms, which underpin those transitions.

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Bibliographic Info

Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 15 (2004)
Issue (Month): 1 (March)
Pages: 13-46

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Handle: RePEc:eee:streco:v:15:y:2004:i:1:p:13-46

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Web page: http://www.elsevier.com/locate/inca/525148

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Cited by:
  1. Forouzanfar, Mehdi & Doustmohammadi, Ali & Menhaj, M. Bagher & Hasanzadeh, Samira, 2010. "Modeling and estimation of the natural gas consumption for residential and commercial sectors in Iran," Applied Energy, Elsevier, vol. 87(1), pages 268-274, January.
  2. Zuzana Křístková, 2012. "Impact of R&D Investment on Economic Growth of the Czech Republic - A Recursively Dynamic CGE Approach," Prague Economic Papers, University of Economics, Prague, vol. 2012(4), pages 412-433.
  3. Zuzana KRISTKOVA, 2013. "Analysis of Private R&D Effects in a CGE Model with Capital Varieties: The Case of the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 63(3), pages 262-287, July.
  4. Michal Kejak & David Vavra, 2004. "Factor Accumulation Story: Any Unfinished Business?," CERGE-EI Working Papers wp220, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  5. repec:prg:jnlpep:v:2013:y:2013:i:4:id:432:p:412-433 is not listed on IDEAS

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