A Novel Methodology for Comparisons in Time and Space
In economics, politics, business and statistics time distance concept can provide new insights from existing data. A novel statistical measure S-distance (expressed in time) is generalised to complement conventional static measures in time series comparisons, regressions, models, forecasting and monitoring. The examples focus on disparities in GDP per capita for EU regions and countries, and selected transition countries. The broader analysis in two dimensions leads to a comprehensive definition of convergence, new hypotheses and policy conclusions. For cohesion in the EU it is important also how fast and not only how much faster the less developed units grow.
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