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The Evaluation of an Economic Distance Among Countries: A Novel Approach

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  • Jiří Mazurek

Abstract

The aim of the article is to propose a new measure of a relative economic distance between two countries (RED) or among a group of countries (GRED). Both measures enable to evaluate 'proximity' between national economies through time series of selected variables, and are related to the concept of the sigma (beta) convergence introduced by Barro and Sala-i Martin (1995). In the empirical part of the paper, the RED of Poland, Slovakia, Austria, Germany, the USA and Japan with regard to the Czech Republic are estimated, as well as the time evolution of the GRED of the Czech Republic and its neighbours. The main finding is the strong convergence among these countries after the outbreak of the financial crisis which persists to this day.

Suggested Citation

  • Jiří Mazurek, 2012. "The Evaluation of an Economic Distance Among Countries: A Novel Approach," Prague Economic Papers, Prague University of Economics and Business, vol. 2012(3), pages 277-290.
    • Handle: RePEc:prg:jnlpep:v:2012:y:2012:i:3:id:424:p:277-290
    DOI: 10.18267/j.pep.424
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    References listed on IDEAS

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    1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    2. Moreno, Ramon & Trehan, Bharat, 1997. "Location and the Growth of Nations," Journal of Economic Growth, Springer, vol. 2(4), pages 399-418, December.
    3. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    4. María Teresa Ramírez & Ana María Loboguerero, 2002. "Spatial Dependence and Economic Growth: Evidence from a panel of Countries," Borradores de Economia 206, Banco de la Republica de Colombia.
    5. Maria ABREU & Henri L.F. DE GROOT & Raymond J.G.M. FLORAX, 2005. "Space And Growth: A Survey Of Empirical Evidence And Methods," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 21, pages 13-44.
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    Cited by:

    1. Nataša Kobal & Roberto Biloslavo & Matevz Raskovic, 2018. "SME Internationalisation in the United Arab Emirates: Home-Host Country Characteristics and the Role of Cultural Distance," MIC 2018: Managing Global Diversities; Proceedings of the Joint International Conference, Bled, Slovenia, 30 May–2 June 2018,, University of Primorska Press.
    2. Amavilah, Voxi Heinrich, 2018. "Endogenous constraints, coefficients of economic distance, and economic performance of African countries – An exploratory essay," MPRA Paper 90065, University Library of Munich, Germany.
    3. Tamás DUSEK & Lívia ABLONCZY-MIHà LYKA & Petra KECSKÉS & Zsuzsanna Pà LFFY, 2022. "Time-Space Asymmetry Versus Time-Space Symmetry," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 17(4), pages 68-81, November.
    4. Nazarczuk Jarosław M., 2015. "Regional distance: the concept and empirical evidence from Poland," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 28(28), pages 129-141, June.

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    More about this item

    Keywords

    unemployment; correlation; GDP; relative economic distance; the Czech Republic;
    All these keywords.

    JEL classification:

    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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