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Analysis of GDP per Capita Convergence Speed in the Member States of the European Union

Author

Listed:
  • Viorica Chirila

    (“Alexandru Ioan Cuza†University of Iași)

  • Ciprian Chirila

    (“Alexandru Ioan Cuza†University of Iași)

Abstract

The economic convergence of the European Union countries is a result that we expect to be achieved by relying on Solow's neoclassical growth model. This article presents the analysis results of convergence speed in terms of GDP per inhabitant of the European Union individual states. The analyses are carried out on the convergence, in order to highlight the impact of pandemic caused by the COVID 19 compared to the global economic and financial crisis of 2008. The existence of convergence of GDP per capita is confirm by the results obtain in the countries from the sample studied, members of European Union, in the studied period. The speed of convergence, after the 2008 crisis, is significantly reduced, but the emergence of Covid 19 pandemic does not significantly influence the speed of convergence although the results are incipient.

Suggested Citation

  • Viorica Chirila & Ciprian Chirila, 2021. "Analysis of GDP per Capita Convergence Speed in the Member States of the European Union," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 101-108, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:101-108
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    convergence; GDP per capita; speed of convergence; COVID 19 pandemic; economic and financial crise;
    All these keywords.

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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