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An Integrative Approach to Measuring Economic Convergence: The Case of the European Union

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Listed:
  • Bunyaratavej Kraiwinee

    () (Department of Business/Health Administration and Economics, Arcadia University)

  • Hahn Eugene D.

    () (Department of Information & Decision Sciences, Salisbury University)

Abstract

Empirical convergence analyses have helped provide insight as to whether economies are converging. Previous works on convergence have tended to focus on a particular economic indicator exclusively, even though the convergence process has multiple components. Improved estimates of convergence are likely to result from an integrated approach wherein several indicators are considered simultaneously. The proposed model integrates convergence analyses for three convergence variables to estimate the overall rate of economic convergence in the EU during 1960 to 1990. The research indicates that convergence is occurring overall, but that employment convergence is happening at a considerably slower pace than are the other types of convergence.

Suggested Citation

  • Bunyaratavej Kraiwinee & Hahn Eugene D., 2005. "An Integrative Approach to Measuring Economic Convergence: The Case of the European Union," Global Economy Journal, De Gruyter, vol. 5(2), pages 1-25, July.
  • Handle: RePEc:bpj:glecon:v:5:y:2005:i:2:n:8
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    References listed on IDEAS

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    Cited by:

    1. FE, Doukouré Charles, 2010. "Réduction de Droits de Douane et Convergence Réelle dans l'UEMOA
      [Tariffs Reduction and Real Convergence in WAEMU]
      ," MPRA Paper 26763, University Library of Munich, Germany.

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