Real Convergence and Integration
AbstractThe 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 to 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. Our paper deals with the evolution of the EU cohesion funds, as well as with the results of convergence. * Study within the CEEX Programme – Project No. 220/2006 “Economic Convergence and Role of Knowledge in Relation to the EU Integration”.
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Bibliographic InfoPaper provided by National Institute of Economic Research in its series Working Papers of National Institute of Economic Research with number 090102.
Length: 20 pages
Date of creation: Jan 2009
Date of revision:
neoclassical model; marginal rate of return to capital; polarisation; convergence; divergence; cohesion; cohesion among countries; cohesion funds; structural funds; variation coefficient.;
Other versions of this item:
- Iancu, Aurel, 2008. "Real Convergence and Integration," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 27-40, March.
- Aurel IANCU, 2008. "Real convergence and integration," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 1, pages 15-28, December.
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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