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An Empirical Analysis of Income Convergence in the European Union

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  • Laurent Cavenaile
  • David Dubois

Abstract

In this paper, we investigate the convergence process within the European Union (27 countries). More particularly, we study the convergence process of the new entrants from Central and Eastern Europe and of the 15 Western countries between 1990 and 2007. Applying a panel approach to the convergence equation derived by Mankiw et al. (1992) from the Solow model, we highlight the existence of heterogeneity in the European Union and show that new entrants and former members of the European Union can be seen as belonging to significantly differ ent groups of convergence. The existence of heterogeneity in the European Union or the Eurozone might affect their stability as the recent Greece’s sovereign debt crisis illustrates it.

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Paper provided by Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège in its series CREPP Working Papers with number 1001.

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Date of creation: 2010
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Handle: RePEc:rpp:wpaper:1001

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  1. Durlauf, S.M. & Johnson, P.A., 1995. "Multiple Regimes and Cross-Country Growth Behavior," Working papers, Wisconsin Madison - Social Systems 9419r, Wisconsin Madison - Social Systems.
  2. Evans, Paul & Karras, Georgios, 1996. "Convergence revisited," Journal of Monetary Economics, Elsevier, Elsevier, vol. 37(2-3), pages 249-265, April.
  3. Manfred Fischer & Claudia Stirböck, 2006. "Pan-European regional income growth and club-convergence," The Annals of Regional Science, Springer, Springer, vol. 40(4), pages 693-721, December.
  4. Nazrul Islam, 2003. "What have We Learnt from the Convergence Debate?," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 17(3), pages 309-362, 07.
  5. Kocenda, Evzen & Kutan, Ali M. & Yigit, Taner M., 2006. "Pilgrims to the Eurozone: How far, how fast?," Economic Systems, Elsevier, Elsevier, vol. 30(4), pages 311-327, December.
  6. Toni Mora, 2005. "Evidencing European regional convergence clubs with optimal grouping criteria," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(15), pages 937-940.
  7. Andrew B. Bernard & Steven N. Durlauf, 1994. "Interpreting Tests of the Convergence Hypothesis," NBER Technical Working Papers, National Bureau of Economic Research, Inc 0159, National Bureau of Economic Research, Inc.
  8. Galor, Oded, 1996. "Convergence? Inferences from Theoretical Models," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1350, C.E.P.R. Discussion Papers.
  9. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(4), pages 1127-70, November.
  10. Michele Battisti & Gianfranco Vaio, 2008. "A spatially filtered mixture of β-convergence regressions for EU regions, 1980–2002," Empirical Economics, Springer, Springer, vol. 34(1), pages 203-203, February.
  11. Desdoigts, Alain, 1999. " Patterns of Economic Development and the Formation of Clubs," Journal of Economic Growth, Springer, Springer, vol. 4(3), pages 305-30, September.
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Cited by:
  1. Gächter, Martin & Riedl , Aleksandra & Ritzberger-Grünwald, Doris, 2013. "Business cycle convergence or decoupling? Economic adjustment in CESEE during the crisis," BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition 3/2013, Bank of Finland, Institute for Economies in Transition.
  2. Kaitila, Ville, 2013. "Convergence, income distribution, and the economic crisis in Europe," ETLA Working Papers, The Research Institute of the Finnish Economy 14, The Research Institute of the Finnish Economy.

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