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Triggering factors for economic convergence and stability across central and eastern European countries

Author

Listed:
  • Ioana Sorina MIHUȚ

    (Bucharest University of Economic Studies, Romania)

  • Larisa Nicoleta POP

    (Bucharest University of Economic Studies, Romania)

  • Andreea Maria PECE

    (Bucharest University of Economic Studies, Romania)

Abstract

The primary objective of this article is to evaluate the degree of convergence and establish the triggering factors of the economic growth process across the group of countries that joined EU in 2004 and 2007 for the time period between 1992 and 2012. To achieve this objective we developed an empirical analysis using the panel GMM methodology. The results provide guidance for future policies, emphasizing that the infusion of technological progress by increasing spending on research and development, increasing the degree of economic openness and rising the foreign direct investment flow represent the main sources of growth and convergence.

Suggested Citation

  • Ioana Sorina MIHUȚ & Larisa Nicoleta POP & Andreea Maria PECE, 2015. "Triggering factors for economic convergence and stability across central and eastern European countries," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special(I), pages 253-268.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:253-268
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