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Dynamics Of Development In Europe: Analysis Of Twenty Years Data On Gdp And Hdi

Author

Listed:
  • Bucciarelli Edgardo

    (University of Chieti-Pescara, Italy, Department of Quantitative Methods and Economic Theory)

  • Alessi Michele

    (University of Chieti-Pescara, Italy, School of Advanced Studies, Doctorate of Philosophy, XXVI cycle)

  • Persico Tony Ernesto

    (University of Chieti-Pescara, Italy, School of Advanced Studies, Doctorate of Philosophy, XXVII cycle)

Abstract

The aim of this study is to analyze the data on both GDP per capita and HDI related to the member States of European Union for the period from 1990 to 2010 in order to verify if these data are more related to the macro-region to which each State belongs than to European area. In particular, this paper considers four macro-regions: North, Centre, East and Mediterranean. Each of the four macro-regions are characterized by a peculiar dynamic of economic growth over the temporal period here considered. The results show that macro-regional dynamics prevail on European ones when European States are characterized by low values of both GDP per capita and HDI. More specifically, the values on GDP per capita are more correlated to the macro-regional average than to the European one. At the same time, States with high values of both GDP per capita and HDI are more related to the macro-regional dynamics of HDI.Hence, it is possible to observe that not only allows a macro-regional level of analysis to highlight socio-economic dynamics of dependence, but also to underline that some macro-regions are characterized by the prevalence of the economic component on the social one whereas other macro-regions are typified by the opposite dynamic. In fact, if the level of both GDP per capita and HDI are high, the social aspect prevails on the economic one.

Suggested Citation

  • Bucciarelli Edgardo & Alessi Michele & Persico Tony Ernesto, 2012. "Dynamics Of Development In Europe: Analysis Of Twenty Years Data On Gdp And Hdi," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 262-266, July.
    • Handle: RePEc:ora:journl:v:1:y:2012:i:1:p:262-266
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    References listed on IDEAS

    as
    1. International Monetary Fund, 2008. "Macroeconomic Effects of EU Transfers in New Member States," IMF Working Papers 2008/223, International Monetary Fund.
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    More about this item

    Keywords

    socio-economic development; European economies; correlation analysis;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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