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Economic convergence of the Eastern Partnership countries towards the EU-13

Author

Listed:
  • Dzenita SILJAK

    (Institute for Foreign Affairs and Trade, Budapest, Hungary)

  • Sándor Gyula NAGY

    (Institute for Foreign Affairs and Trade, Budapest, Hungary)

Abstract

The aim of the paper is to analyse if the Eastern Partnership countries converge towards the new Member States of the European Union, the EU-13. Beta convergence, which is based on the neoclassical growth theory, tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The analysed period is 2004-2016, with two sub-periods: 2004-2008 and 2009-2013. The subdivision is made in order to test the research hypotheses. The first hypothesis is that the recent financial crisis negatively affected the absolute convergence process among the analysed countries. The second hypothesis is that the recent financial crisis negatively affected the conditional convergence process among the countries. The empirical findings support the economic convergence hypothesis, and the convergence rates range 1.6%-3.8%. The results show that the recent financial crisis negatively affected only absolute convergence. Negative effects of the crisis on conditional convergence are not confirmed.

Suggested Citation

  • 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.
    • Handle: RePEc:jes:journl:y:2018:v:9:p:169-185
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    Cited by:

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    2. Ramona Tiganasu & Tudor Dumitru Jijie & Karima Kourtit, 2020. "Effectiveness and impact of cross‐border cooperation programmes in the perception of beneficiaries. Investigation of 2007–2013 Romania–Ukraine–Moldova programmes," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(5), pages 867-891, October.
    3. Tudor Mugurel AURSULESEI & Liviu-George MAHA, 2019. "Price Stability - A Main Objective Of European Monetary Policy," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6, pages 55-74.
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    5. Dzenita Siljak & Sandor Gyula Nagy, 2021. "The Effects of the Crisis on Convergence between the Eastern Partnership and EU-15 States," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 3-18.

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