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Productivity Convergence in Europe

Author

Listed:
  • Efthymios G. Tsionas

    (Council of Economic Advisers, Ministry of National Economy)

Abstract

The paper examines the convergence properties of productivity in fifteen European countries over the period 1960-1997. Empirical tests are performed for the "Maastricht proposition," according to which nominal convergence in rates of inflation is a prerequisite for real convergence. Modern econometric techniques for non-stationary time series, organized Around and cointegration analysis are used to examine within-group and between-group convergence. The number of common, long-run stochastic trends in productivity series is also examined. The results suggest strong evidence against unconditional or conditional convergence. However, European productivity time series can be described by a relatively small number of common long-run trends.

Suggested Citation

  • Efthymios G. Tsionas, 2000. "Productivity Convergence in Europe," Eastern Economic Journal, Eastern Economic Association, vol. 26(3), pages 297-320, Summer.
    • Handle: RePEc:eej:eeconj:v:26:y:2000:i:3:p:297-320
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume26/V26N3P297_320.pdf
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    Citations

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    Cited by:

    1. Marko Petrovic & Bulent Ozel & Andrea Teglio & Marco Raberto & Silvano Cincotti, 2017. "Eurace Open: An agent-based multi-country model," Working Papers 2017/09, Economics Department, Universitat Jaume I, Castellón (Spain).
    2. Tsionas, Efthymios G. & Christopoulos, Dimitris K., 2003. "Maastricht convergence and real convergence: European evidence from threshold and smooth transition regression models," Journal of Policy Modeling, Elsevier, vol. 25(1), pages 43-52, January.
    3. David Sondermann, 2014. "Productivity in the euro area: any evidence of convergence?," Empirical Economics, Springer, vol. 47(3), pages 999-1027, November.
    4. Martin Boďa & Mariana Považanová, 2020. "Productivity patterns in Europe: adaptation of the Malmquist index to measuring group performance and productivity change over time," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(4), pages 949-989, November.
    5. Scott W. Hegerty, 2016. "Regional Convergence and Growth Clusters in Central and Eastern Europe: An Examination of Sectoral-Level Data," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 2(2), pages 95-110.
    6. Tsionas, Efthymios G., 2001. "P-STAR analysis in a converging economy: the case of Greece," Economic Modelling, Elsevier, vol. 18(1), pages 49-60, January.
    7. Petrović, Marko & Ozel, Bulent & Teglio, Andrea & Raberto, Marco & Cincotti, Silvano, 2020. "Should I stay or should I go? An agent-based setup for a trading and monetary union," Journal of Economic Dynamics and Control, Elsevier, vol. 113(C).

    More about this item

    Keywords

    Convergence; Productivity;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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