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Real convergence in the new eu member states

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  • Borut Vojinović
  • Žan Jan Oplotnik
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    Abstract

    This paper presents the analysis of unconditional and convergence among the ten European countries that accessed the European Union in 2004. Unconditional convergence means that the less developed countries (with lower GDP per capita) grow faster than the more developed countries (with higher GDP per capita). convergence exists when income differentiation among economies decreases over time. Our results confirm the existence of both types of convergence in the second half of the 1990s and the 2000s. The poorer New EU Member States grew generally faster than the richer New EU Member States. As a result, the income gap among these countries has decreased (although it still remains quite large). The convergence occurred at the rate of 2.87% in the years 1995-2006 and 3.23% in 1996-2006. This result is very similar to the results of other analyses on the subject.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Prague Economic Papers.

    Volume (Year): 2008 (2008)
    Issue (Month): 1 ()
    Pages: 23-39

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    Handle: RePEc:prg:jnlpep:v:2008:y:2008:i:1:id:317:p:23-39

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    Related research

    Keywords: transitional economies; European Union; economic growth; economic convergence;

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    References

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    1. Ben-David, Dan, 1996. "Trade and convergence among countries," Journal of International Economics, Elsevier, vol. 40(3-4), pages 279-298, May.
    2. Urmas Varblane & Priit Vahter, 2005. "An Analysis Of The Economic Convergence Process In The Transition Countries," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 37, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    3. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
    4. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
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    Cited by:
    1. Luboš Komárek & Kamila Koprnická & Petr Král, 2010. "A Long-Term Real Appreciation as the Phenomenon of Economic Convergence," Politická ekonomie, University of Economics, Prague, vol. 2010(1), pages 70-91.
    2. Tomáš Želinský, 2010. "Analysis of Poverty in Slovakia Based on the Concept of Relative Deprivation," Politická ekonomie, University of Economics, Prague, vol. 2010(4), pages 542-565.

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