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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.

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Article provided by Hitotsubashi University in its journal Hitotsubashi Journal of Economics.

Volume (Year): 50 (2009)
Issue (Month): 2 (December)
Pages: 17-35

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Handle: RePEc:hit:hitjec:v:50:y:2009:i:2:p:17-35
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Keywords: economic growth; economic convergence; transition economies; European Union;

Find related papers by 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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Cited by:

  1. 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, National Bank of Poland, Economic Institute, vol. 44(5), pages 505-532.

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