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Evaluation of the Income Convergence Hypothesis in Ten New Members of the European Union. A Panel Unit Root Approach

Author

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  • Ranjpour Reza
  • Karimi Takanlou Zahra

Abstract

In this paper, different tests of unit root in panel data are implemented for studying real economic convergence and catching-up in ten new members of European Union (EU) toward average EU per capita income and average of ancient members. We used the "EuroStat" quarterly real per capita output data on the period 1995 - 2005. The results support existence of absolute convergence and catching-up processes in sample countries towards EU standards. Key words: Growth, European Union, Convergence, Panel unit root, Catching-up.JEL: C12, C33, O47, O52.

Suggested Citation

  • Ranjpour Reza & Karimi Takanlou Zahra, 2008. "Evaluation of the Income Convergence Hypothesis in Ten New Members of the European Union. A Panel Unit Root Approach," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(2), pages 157-166.
    • Handle: RePEc:voj:journl:v:55:y:2008:i:2:p:157-166:id:244
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    More about this item

    Keywords

    Growth; European Union; Convergence; Panel unit root; Catching-up;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple 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
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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