IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpep/v2016y2016i5id574p509-526.html
   My bibliography  Save this article

The Impact of Economic Crisis on Convergence Processes in European Union Regions

Author

Listed:
  • Beata Bal-Domańska

Abstract

The effects of the financial crisis, that started in 2008 and first emerged on the American housing market, have been experienced by many European economies. The purpose of this article is to attempt to measure and assess the sensitivity of convergence processes to crisis in European Union's regional economies taking into consideration their sectoral structure. Particular resistance to crisis is associated with the presence of "modern" sectors of the economy. The study covers the panel of the European Union NUTS-2 level regions in the period 2005-2011. In the analysis, the application of panel data allows for inclusion of the specific non-measurable aspects characteristic for particular regions and time.

Suggested Citation

  • Beata Bal-Domańska, 2016. "The Impact of Economic Crisis on Convergence Processes in European Union Regions," Prague Economic Papers, Prague University of Economics and Business, vol. 2016(5), pages 509-526.
    • Handle: RePEc:prg:jnlpep:v:2016:y:2016:i:5:id:574:p:509-526
    DOI: 10.18267/j.pep.574
    as

    Download full text from publisher

    File URL: http://pep.vse.cz/doi/10.18267/j.pep.574.html
    Download Restriction: free of charge
    File URL: http://pep.vse.cz/doi/10.18267/j.pep.574.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.pep.574?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Behr, Andreas, 2003. "A comparison of dynamic panel data estimators: Monte Carlo evidence and an application to the investment function," Discussion Paper Series 1: Economic Studies 2003,05, Deutsche Bundesbank.
    2. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-1036, July.
    3. Alberto Martin & Jaume Ventura, 2012. "Economic Growth with Bubbles," American Economic Review, American Economic Association, vol. 102(6), pages 3033-3058, October.
    4. Robert J. Barro & Xavier Sala-i-Martin, 2003. "Economic Growth, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262025531, December.
    5. Dermot Hodson & Lucia Quaglia, 2009. "European Perspectives on the Global Financial Crisis: Introduction," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 939-953, November.
    6. Stephen Bond & Anke Hoeffler, 2001. "GMM Estimation of Empirical Growth Models," Economics Series Working Papers 2001-W21, University of Oxford, Department of Economics.
    7. Marcus Scheiblecker & et al., 2003. "Österreichs Wirtschaft im Jahr 2002: Neuerlich ungenügendes Wachstum," WIFO Monatsberichte (monthly reports), WIFO, vol. 76(4), pages 257-323, April.
    8. Daniele Archibugi & Andrea Filippetti, 2011. "Is the Economic Crisis Impairing Convergence in Innovation Performance across Europe?," Journal of Common Market Studies, Wiley Blackwell, vol. 49(6), pages 1153-1182, November.
    9. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, vol. 9(1), pages 86-136, March.
    10. Stefan P. T. Groot & J. L. Möhlmann & J. H. Garretsen & Henri L. F. de Groot, 2011. "The crisis sensitivity of European countries and regions: stylized facts and spatial heterogeneity," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 4(3), pages 437-456.
    11. Robert J. Barro, 2003. "Determinants of Economic Growth in a Panel of Countries," Annals of Economics and Finance, Society for AEF, vol. 4(2), pages 231-274, November.
    12. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    13. McCleary, Rachel & Barro, Robert, 2003. "Religion and Economic Growth across Countries," Scholarly Articles 3708464, Harvard University Department of Economics.
    14. Stephen Bond & Anke Hoeffler & Jonathan Temple, 2001. "GMM Estimation of Empirical Growth Models," Economics Papers 2001-W21, Economics Group, Nuffield College, University of Oxford.
    15. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    16. Dermot Hodson & Lucia Quaglia, 2009. "European Perspectives on the Global Financial Crisis: Introduction," Journal of Common Market Studies, Wiley Blackwell, vol. 47(5), pages 939-953, November.
    17. David Roodman, 2006. "How to Do xtabond2," North American Stata Users' Group Meetings 2006 8, Stata Users Group.
    18. Robert J. Barro & Rachel McCleary, 2003. "Religion and Economic Growth," NBER Working Papers 9682, National Bureau of Economic Research, Inc.
    19. Windmeijer, Frank, 2005. "A finite sample correction for the variance of linear efficient two-step GMM estimators," Journal of Econometrics, Elsevier, vol. 126(1), pages 25-51, May.
    20. Xavier Sala-i-Martín & Elsa V. Artadi, 2003. "Economic growth and investment in the Arab world," Economics Working Papers 683, Department of Economics and Business, Universitat Pompeu Fabra.
    21. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(4), pages 1127-1170.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Antonio Ruíz Porras & Guillermo Rosales Jaramillo, 2014. "Crecimiento económico, banca y desarrollo financiero: evidencia internacional," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 29(2), pages 263-300.
    2. Teixeira, Aurora A.C. & Queirós, Anabela S.S., 2016. "Economic growth, human capital and structural change: A dynamic panel data analysis," Research Policy, Elsevier, vol. 45(8), pages 1636-1648.
    3. Vito Pipitone & Luciano Seta, 2017. "A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 347-357.
    4. Hauk, William R., 2017. "Endogeneity bias and growth regressions," Journal of Macroeconomics, Elsevier, vol. 51(C), pages 143-161.
    5. Brahim Gaies, 2017. "Globalisation Financière, Croissance et effets de seuil : Le Cas des pays en développement Les moins avancés," EconomiX Working Papers 2017-25, University of Paris Nanterre, EconomiX.
    6. Bayraktar-Sağlam, Bahar & Yetkiner, Hakan, 2014. "A Romerian contribution to the empirics of economic growth," Journal of Policy Modeling, Elsevier, vol. 36(2), pages 257-272.
    7. Weijie Luo, 2017. "Inequality and Growth in the 21st Century," Discussion Papers 17/18, Department of Economics, University of York.
    8. Próchniak, Mariusz & Witkowski, Bartosz, 2013. "Time stability of the beta convergence among EU countries: Bayesian model averaging perspective," Economic Modelling, Elsevier, vol. 30(C), pages 322-333.
    9. Benjamin Jung, 2009. "Adjustment Dynamics of Bilateral Trade Flows: Theory and Evidence," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 145(IV), pages 421-442, December.
    10. Ekrame Boubtane & Jean-Christophe Dumont & Christophe Rault, 2013. "Immigration and economic growth in the OECD countries 1986-2006," Post-Print halshs-00800617, HAL.
    11. Ekrame Boubtane & Jean-Christophe Dumont & Christophe Rault, 2016. "Immigration and economic growth in the OECD countries 1986–2006," Oxford Economic Papers, Oxford University Press, vol. 68(2), pages 340-360.
    12. Ekrame Boubtane & Jean-Christophe Dumont & Christophe Rault, 2016. "Immigration and economic growth in the OECD countries 1986–2006," Oxford Economic Papers, Oxford University Press, vol. 68(2), pages 340-360.
    13. Mariusz Prochniak & Katarzyna Wasiak, 2017. "The impact of the financial system on economic growth in the context of the global crisis: empirical evidence for the EU and OECD countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(2), pages 295-337, May.
    14. Ekrame BOUBTANE & Jean-Christophe DUMONT & Christophe RAULT, 2015. "Immigration and Economic Growth in the OECD Countries 1986-2006," LEO Working Papers / DR LEO 2235, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    15. Dimitar Eftimoski, 2020. "Some new insights on economic convergence and growth in Central, Eastern, and Southeastern Europe," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(4), pages 863-884, November.
    16. Agnieszka Gehringer, 2015. "New evidence on the determinants of current accounts in the EU," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(4), pages 769-793, November.
    17. Paola Bongini & Małgorzata Iwanicz-Drozdowska & Paweł Smaga & Bartosz Witkowski, 2017. "Financial Development and Economic Growth: The Role of Foreign-Owned Banks in CESEE Countries," Sustainability, MDPI, vol. 9(3), pages 1-25, March.
    18. Ekrame Boubtane & Jean-Christophe Dumont & Christophe Rault, 2016. "Document de Recherche du Laboratoire d'Économie d'Orléans "Immigration and economic growth in the OECD countries 1986- 2006" [Document de Recherche du Laboratoire d'Economie d'Orléans &qu," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01252165, HAL.
    19. Zheng, Xinye & Li, Fanghua & Song, Shunfeng & Yu, Yihua, 2013. "Central government's infrastructure investment across Chinese regions: A dynamic spatial panel data approach," China Economic Review, Elsevier, vol. 27(C), pages 264-276.
    20. Jerzmanowski, Michal & Tamura, Robert, 2019. "Directed technological change & cross-country income differences: A quantitative analysis," Journal of Development Economics, Elsevier, vol. 141(C).

    More about this item

    Keywords

    European Union; convergence; economic crises; smart specialisation;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpep:v:2016:y:2016:i:5:id:574:p:509-526. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.