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Real convergence in the new eu member states

Author

Listed:
  • Borut Vojinović
  • Žan Jan Oplotnik

Abstract

This paper presents the analysis of unconditional and convergence among the ten European countries that accessed the European Union in 2004. Unconditional convergence means that the less developed countries (with lower GDP per capita) grow faster than the more developed countries (with higher GDP per capita). convergence exists when income differentiation among economies decreases over time. Our results confirm the existence of both types of convergence in the second half of the 1990s and the 2000s. The poorer New EU Member States grew generally faster than the richer New EU Member States. As a result, the income gap among these countries has decreased (although it still remains quite large). The convergence occurred at the rate of 2.87% in the years 1995-2006 and 3.23% in 1996-2006. This result is very similar to the results of other analyses on the subject.

Suggested Citation

  • Borut Vojinović & Žan Jan Oplotnik, 2008. "Real convergence in the new eu member states," Prague Economic Papers, University of Economics, Prague, vol. 2008(1), pages 23-39.
  • Handle: RePEc:prg:jnlpep:v:2008:y:2008:i:1:id:317:p:23-39
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    References listed on IDEAS

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    1. Urmas Varblane & Priit Vahter, 2005. "An Analysis Of The Economic Convergence Process In The Transition Countries," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 37, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    3. Ben-David, Dan, 1996. "Trade and convergence among countries," Journal of International Economics, Elsevier, pages 279-298.
    4. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    5. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
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    Citations

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    Cited by:

    1. 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.
    2. Luboš Komárek & Kamila Koprnická & Petr Král, 2010. "Dlouhodobá reálná apreciace jako fenomén ekonomické konvergence
      [A Long-Term Real Appreciation as the Phenomenon of Economic Convergence]
      ," Politická ekonomie, University of Economics, Prague, vol. 2010(1), pages 70-91.
    3. Jan Nevima & Ingrid Majerová, 2015. "Application of ß – Convergence Approach in Visegrad Four Regions," Working Papers 0004, Silesian University, School of Business Administration.
    4. Tomáš Želinský, 2010. "Analýza chudoby na Slovensku založená na koncepte relatívnej deprivácie
      [Analysis of Poverty in Slovakia Based on the Concept of Relative Deprivation]
      ," Politická ekonomie, University of Economics, Prague, vol. 2010(4), pages 542-565.

    More about this item

    Keywords

    European Union; economic growth; transitional economies; economic convergence;

    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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