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Real Convergence and Integration

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  • Iancu, Aurel

    (Romanian Academy, National Institute of Economic Research)

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 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 Info

Paper provided by National Institute of Economic Research in its series Working Papers of National Institute of Economic Research with number 090102.

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Length: 20 pages
Date of creation: Jan 2009
Date of revision:
Handle: RePEc:ror:wpince:090102

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Keywords: neoclassical model; marginal rate of return to capital; polarisation; convergence; divergence; cohesion; cohesion among countries; cohesion funds; structural funds; variation coefficient.;

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References

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  1. Puga, Diego, 1999. "The rise and fall of regional inequalities," European Economic Review, Elsevier, vol. 43(2), pages 303-334, February.
  2. Esteban, Joan & Ray, Debraj, 1994. "On the Measurement of Polarization," Econometrica, Econometric Society, vol. 62(4), pages 819-51, July.
  3. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  4. Ranis, Gustav & Stewart, Frances & Ramirez, Alejandro, 2000. "Economic Growth and Human Development," World Development, Elsevier, vol. 28(2), pages 197-219, February.
  5. Iancu Aurel, 2006. "Problema convergenţei economice," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 04, December.
  6. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  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. Cecilia Garcia-Penalosa & Eve Caroli & Philippe Aghion, 1999. "Inequality and Economic Growth: The Perspective of the New Growth Theories," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1615-1660, December.
  9. Barro, R.J. & Sala-I-Martin, X., 1991. "Convergence," Papers 645, Yale - Economic Growth Center.
  10. 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.
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Cited by:
  1. 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.
  2. 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.
  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. 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.
  5. 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.
  6. 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.
  7. 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.
  8. Lucian-Liviu Albu, 2012. "Structural Convergence in European Union," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 1-10, December.
  9. 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.
  10. 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.
  11. Lucian-Liviu ALBU, 2012. "Trends In Income Distribution," Romanian Journal of Economics, Institute of National Economy, vol. 35(2(44)), pages 33-44, December.

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