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Real Convergence and Integration

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  • Iancu, Aurel

    ()
    (Member of the Romanian Academy, and senior researcher at the National Institute of Economies - Romanian Academy - Bucharest)

Abstract

The study ** is based on the critical observations that competitive market forces alone are not able to assure convergence with the developed countries. These observations are grounded on the results of the computation of the marginal rate of return on capital (which contradict the neoclassical model hypotheses), as well as on the real process of polarisation of the economic activities, taking place worldwide and in accordance with the law of competition. Unlike those who trust the perfect competitive market virtues, the EU’s economic policy is realistic as it is based on the harmonisation of the market forces with an economic policy based on the principle of cohesion, which supports, by means of economic levers, the less developed regions and member countries. This paper deals with the evolution of the EU cohesion funds, as well as with the results of convergence.

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Bibliographic Info

Article provided by Institute for Economic Forecasting in its journal Romanian Journal of Economic Forecasting.

Volume (Year): 5 (2008)
Issue (Month): 1 (March)
Pages: 27-40

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Handle: RePEc:rjr:romjef:v:5:y:2008:i:1:p:27-40

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Keywords: Neoclassical model; marginal rate of return on capital; polarisation; convergence; divergence; cohesion; cohesion funds; structural funds; variation coefficient.;

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References

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  1. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  2. Garcia-Penalosa, Cecilia & Aghion, Philippe & Caroli, Eve, 1999. "Inequality and Economic Growth: The Perspective of the New Growth Theories," Economics Papers from University Paris Dauphine 123456789/10091, Paris Dauphine University.
  3. Ranis, G. & Ramirez, A. & Stewart, F., 1997. "Economic Growth and Human Development," Papers 787, Yale - Economic Growth Center.
  4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  5. Joan-Maria Esteban & Debraj Ray, 1991. "On the Measurement of Polarization," Boston University - Institute for Economic Development 18, Boston University, Institute for Economic Development.
  6. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  7. M. Taner Yigit & Ali M. Kutan, 2004. "Convergence of Candidate Countries to the European Union," Departmental Working Papers 0403, Bilkent University, Department of Economics.
  8. Barro, Robert J. & Sala-i-Martin, Xavier, 1992. "Convergence," Scholarly Articles 3451299, Harvard University Department of Economics.
    • Barro, R.J. & Sala-I-Martin, X., 1991. "Convergence," Papers 645, Yale - Economic Growth Center.
  9. Puga, Diego, 1999. "The rise and fall of regional inequalities," European Economic Review, Elsevier, vol. 43(2), pages 303-334, February.
  10. Iancu Aurel, 2006. "Problema convergenţei economice," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 04, December.
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Citations

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Cited by:
  1. Miron, Dumitru & Dima, Alina & Paun, Cristian, 2009. "A model for assessing Romania's real convergence based on distances and clusters methods," MPRA Paper 31410, University Library of Munich, Germany.
  2. Lucian-Liviu Albu, 2012. "Structural Convergence in European Union," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 1-10, December.
  3. Paun, Cristian, 2010. "An empirical estimation of Balassa – Samuelson Effect in case of Eastern European Countries," MPRA Paper 31407, University Library of Munich, Germany.
  4. Albu, Lucian Liviu, 2013. "Foreign Trade and FDI as Main Factors of Growth in the EU," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 7-17, June.
  5. Altar, Moisa & Necula, Ciprian & Bobeica, Gabriel, 2008. "Modeling The Economic Growth In Romania. The Influence Of Fiscal Regimes," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(4), pages 146-160, December.
  6. Lucian-Liviu ALBU, 2012. "Trends In Income Distribution," Romanian Journal of Economics, Institute of National Economy, vol. 35(2(44)), pages 33-44, December.
  7. Guglielmo Maria Caporale & Christophe Rault & Robert Sova & Anamaria Sova, 2011. "Trade Specialisation and Economic Convergence: Evidence from two Eastern European Countries," DEGIT Conference Papers c016_071, DEGIT, Dynamics, Economic Growth, and International Trade.
  8. Diana Tănase & Adrian Tănase & Florin Franţ, 2013. "Impact of the Influential Factors of Economic Competitiveness upon Romania’s West Region Firms," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(3), pages 7, June.
  9. Triandafil, Cristina Maria, 2011. "The Analysis Of The Convergence Criteria. Empirical Perspective In The Context Of The Sustainable Character Highlight," Working Papers of National Institute of Economic Research 111205, National Institute of Economic Research.
  10. Albu, Lucian Liviu, 2012. "The Convergence Process in the EU Estimated by Gini Coefficients," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-16, December.
  11. Daniela ANTONESCU, 2012. "Identifying Regional Economic Disparities and Convergence in Romania," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 2(2), pages 8, April.

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