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Econometric Assessment of the Degree of Economic Convergence between Member States of the European Union

Author

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  • Elena Mădălina OPRIȚESCU

    (University of Craiova)

Abstract
One of the important objectives of the European Union is to support economic growth based on economic, social and territorial cohesion between Member States. Due to the accession of relatively poor countries to the European Union, maintaining cohesion is and will remain a major challenge, with cohesion policy having to support the reduction of imbalances between the old Member States and also support the development of less developed regions. One of the main measures adopted by the European authorities emphasizes the importance of increasing the degree of economic convergence between Member States by promoting a common market along with an economic and monetary union. In addition, increasing productivity and convergence within the EU are the foundations of the Lisbon Strategy and remain an important pillar of the Europe 2020 Growth Strategy.

Suggested Citation

  • Elena Mădălina OPRIȚESCU, 2017. "Econometric Assessment of the Degree of Economic Convergence between Member States of the European Union," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(19), pages 136-144, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2017:i:19:p:136-144
    as

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    References listed on IDEAS

    as
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    3. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-1085, December.
    4. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
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    7. Václav Žďárek & Jaromír Šindel, 2007. "Real and Nominal Convergence and the New EU Member States - Actual State and Implications," Prague Economic Papers, Prague University of Economics and Business, vol. 2007(3), pages 195-219.
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    More about this item

    Keywords

    Economic growth; regional development; sigma convergence; beta convergence;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • 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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