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Convergence Analysis Among the Ten European Transition Economies

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  • Vojinović, Borut
  • Acharya, Sanjaya
  • Próchniak, Mariusz

Abstract

This paper presents the analysis of sigma (σ) and beta (β) convergences of per capita GDP among the 10 European countries which accessed the European Union in 2004. Our results confirm the existence of both types of convergence in the second half of the 1990s and the 2000s. Generally, the poorer and new EU member states grew faster than the richer new EU member states. As a result, the income gap between these two groups of countries has narrowed although it still remains quite large. The convergence occurred at the rate of 4.2% during the period 1992-2006 and 7.0% and 9.6% during the sub periods 1995-2006 and 2002-2006, respectively.

Suggested Citation

  • Vojinović, Borut & Acharya, Sanjaya & Próchniak, Mariusz, 2009. "Convergence Analysis Among the Ten European Transition Economies," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 50(2), pages 17-35, December.
    • Handle: RePEc:hit:hitjec:v:50:y:2009:i:2:p:17-35
    DOI: 10.15057/18049
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    File URL: http://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/18049/HJeco0500200170.pdf
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    References listed on IDEAS

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    Cited by:

    1. Iwasaki, Ichiro & Kumo, Kazuhiro, 2016. "Decline and Growth in Transition Economies: A Meta-Analysis," CEI Working Paper Series 2016-9, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    2. Amat Adarov & Mario Holzner & Luka Sikic, 2016. "Backwardness, Industrialisation and Economic Development in Europe," wiiw Balkan Observatory Working Papers 123, The Vienna Institute for International Economic Studies, wiiw.
    3. Daniel Stavárek & Lucie Tomanova, 2014. "Is the Region of Visegrad Countries on the Track to the Euro Area? Recent Evidence from the Real Convergence Perspective," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 130-139.
    4. Ana-Maria Holobiuc, 2020. "Income Convergence in the European Union: National and Regional Dimensions," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2020(2), pages 45-65.
    5. Dzenita SILJAK & Sándor Gyula NAGY, 2018. "Economic convergence of the Eastern Partnership countries towards the EU-13," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9, pages 169-185, December.
    6. Justyna Supińska, 2013. "Does human factor matter for economic growth? Determinants of economic growth process in CEE countries in light of spatial theory," Bank i Kredyt, Narodowy Bank Polski, vol. 44(5), pages 505-532.
    7. Sándor Gyula Nagy & Dzenita Siljak, 2019. "Economic convergence of the Western Balkans towards the EU-15," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 11(1), pages 41-53, February.

    More about this item

    Keywords

    economic growth; economic convergence; transition economies; European Union;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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