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The Intensity of Convergence Process in the European Union

Author

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  • Mihaela Simionescu

    (Institute for Economic Forecasting of the Romanian Academy, Bucharest, Romania)

Abstract

The objective of this research is to analyze the differences between Romania and the European Union regarding the convergence process. In this paper we were interested in determining the forecasting horizon for which Romania, in certain conditions, might have a value of GDP per capita that is closer to the average of EU (25 countries) and we obtained that 18 years are necessary for Romania to achieve the convergence compared to EU average of GDP per capita. The co-integration approach suggested that in the last 15 years there is a divergence of the Romania economic growth and the EU-25 average. This research might be developed by taking into account other measures of economic convergence.

Suggested Citation

  • Mihaela Simionescu, 2014. "The Intensity of Convergence Process in the European Union," Economic Analysis, Institute of Economic Sciences, vol. 47(1-2), pages 103-110.
    • Handle: RePEc:ibg:eajour:v:47:y:2014:i:1-2:p:103-110
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    File URL: http://www.ien.bg.ac.rs/index.php/en/2014/1-2
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    Cited by:

    1. Daniela Antonescu, 2020. "Trends of Convergence at Regional Level in European Union (EU-28)," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 35, pages 483-497, Editura Lumen.

    More about this item

    Keywords

    beta convergence; GDP per capita; regression; co-integrated series;
    All these keywords.

    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
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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