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Real Economic Convergence

Author

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  • Iancu, Aurel

    (Romanian Academy, National Institute of Economic Research)

Abstract

Real convergence is an essential objective of Romania’s integration into the EU. Bridging the development gaps between Romania and the EU as soon as possible cannot be achieved exclusively through market forces, since they rather tend to cause divergence and polarization. For this purpose, special tools and mechanisms are required; e.g., cohesion. The study deals with the economic convergence of the European countries, and especially the convergence of the CEE countries, including Romania. Models are used to assess the economic growth, approximate the period of real convergence of Romania to the EU, as well as to estimate the σ- and σ-convergence, and the main shortcomings of the last indicator. * Study within the CEEX Programme – Project No. 220/2006 “Economic Convergence and Role of Knowledge in Relation to the EU Integration†.

Suggested Citation

  • Iancu, Aurel, 2009. "Real Economic Convergence," Working Papers of National Institute of Economic Research 090104, National Institute of Economic Research.
  • Handle: RePEc:ror:wpince:090104
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. IONESCU, Lucian, 2013. "Necessity Of A New Type Of Symbiosis Between The Nominal And The Real Economy," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 17(3), pages 44-51.
    2. Jorge M. L. G. Andraz & Paulo M.M. Rodrigues, 2015. "A Reappraisal of Eurozone Countries Output Differentials," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    3. Mihaela Simionescu, 2017. "The GDP per Capita Convergence in the European Union," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(1), pages 81-87, March.
    4. Mihaela Simionescu, 2014. "Testing the Convergence Hypothesis in the European Union," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(1), pages 222-229, May.
    5. Matkowski, Zbigniew & Prochniak, Mariusz & Rapacki, Ryszard, 2016. "Real Income Convergence between Central Eastern and Western Europe: Past, Present, and Prospects," EconStor Conference Papers 146992, ZBW - German National Library of Economics.
    6. Aleksejs Melihovs & Igors Kasjanovs, 2011. "The Convergence Processes in Europe and Latvia," Discussion Papers 2011/01, Latvijas Banka.

    More about this item

    Keywords

    real convergence; divergence; cohesion; club convergence; polarization; regression method; return to capital; σ-convergence; σ-convergence;

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth 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

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