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Accession Trajectories and Convergence: Endogenous Growth Perspective

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  • Michal Kejak
  • Stephan Seiter
  • David Vavra

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

Paper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp219.

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Date of creation: May 2004
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Handle: RePEc:cer:papers:wp219

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Keywords: Two-Sector Growth Models; Economic Growth and Aggregate Productivity; Macroe-conomic Analysis of Economic Development; Human Resources; Human Capital Formation;

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  1. Ortigueira, Salvador & Santos, Manuel S, 1997. "On the Speed of Convergence in Endogenous Growth Models," American Economic Review, American Economic Association, vol. 87(3), pages 383-99, June.
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  5. Ladron-de-Guevara, Antonio & Ortigueira, Salvador & Santos, Manuel S., 1997. "Equilibrium dynamics in two-sector models of endogenous growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 115-143, January.
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  9. Claudia M. Buch, 1999. "Capital Mobility and EU Enlargement," Kiel Working Papers 908, Kiel Institute for the World Economy.
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  13. Kejak, Michal, 2003. "Stages of growth in economic development," Journal of Economic Dynamics and Control, Elsevier, vol. 27(5), pages 771-800, March.
  14. 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.
  15. Zilibotti, Fabrizio, 1995. "A Rostovian model of endogenous growth and underdevelopment traps," European Economic Review, Elsevier, vol. 39(8), pages 1569-1602, October.
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Cited by:
  1. 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.
  2. 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.
  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. 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.
  5. repec:prg:jnlpep:v:2013:y:2013:i:4:id:432:p:412-433 is not listed on IDEAS

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