Structural Convergence of the Central and Eastern European Countries: Achivements in the Last Decade
The paper studies the structural convergence of the Central and Eastern European countries (CEECs) with the Euro area, in order to determine whether the last decade led an increase or a decrease of the gaps between these two regions. The main findings of the paper indicate that only three CEECs out of ten reached a higher level of structural convergence with the Euro area in the last decade, namely Latvia, Bulgaria and Slovenia. Romania remains by far the country with the highest level of structural divergence. The analysis is based on cluster methodology and the structural divergence index developed by Krugman (2001).
|Date of creation:||22 Sep 2011|
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- Ignazio Angeloni & Michael Flad & Francesco Paolo Mongelli, 2005. "Economic and monetary integration of the new Member States - helping to chart the route," Occasional Paper Series 36, European Central Bank.
- Dumitru, Ionut, 2009.
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[Euro adoption in Romania]," MPRA Paper 18612, University Library of Munich, Germany.
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- Elena Bojesteanu & Gabriel Bobeica, 2008. "Where Do the Newest EU Member States Stand on the Road to Monetary Integration?," International Trade and Finance Association Conference Papers 1121, International Trade and Finance Association.
- Zsolt Darvas & György Szapáry, 2004. "Business Cycle Synchronisation in the Enlarged EU: Comovements in the New and Old Members," MNB Working Papers 2004/1, Magyar Nemzeti Bank (Central Bank of Hungary).
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