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Real convergence in the new eu member states

Author

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  • Borut Vojinović
  • Žan Jan Oplotnik

Abstract

This paper presents the analysis of unconditional b and s convergence among the ten European countries that accessed the European Union in 2004. Unconditional b convergence means that the less developed countries (with lower GDP per capita) grow faster than the more developed countries (with higher GDP per capita). s convergence exists when income differentiation among economies decreases over time. Our results confirm the existence of both types of convergence in the second half of the 1990s and the 2000s. The poorer New EU Member States grew generally faster than the richer New EU Member States. As a result, the income gap among these countries has decreased (although it still remains quite large). The convergence occurred at the rate of 2.87% in the years 1995-2006 and 3.23% in 1996-2006. This result is very similar to the results of other analyses on the subject.

Suggested Citation

  • Borut Vojinović & Žan Jan Oplotnik, 2008. "Real convergence in the new eu member states," Prague Economic Papers, Prague University of Economics and Business, vol. 2008(1), pages 23-39.
    • Handle: RePEc:prg:jnlpep:v:2008:y:2008:i:1:id:317:p:23-39
    DOI: 10.18267/j.pep.317
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    1. Urmas Varblane & Priit Vahter, 2005. "An Analysis Of The Economic Convergence Process In The Transition Countries," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 37, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    3. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    4. Ben-David, Dan, 1996. "Trade and convergence among countries," Journal of International Economics, Elsevier, vol. 40(3-4), pages 279-298, May.
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    6. 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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    Cited by:

    1. Cieślik, Andrzej & Wciślik, Dominika Róża, 2020. "Convergence among the CEE-8 economies and their catch-up towards the EU-15," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 39-48.
    2. Amat Adarov & Mario Holzner & Luka Sikic, 2016. "Backwardness, Industrialisation and Economic Development in Europe," wiiw Balkan Observatory Working Papers 123, The Vienna Institute for International Economic Studies, wiiw.
    3. Vojinović, Borut & Acharya, Sanjaya & Próchniak, Mariusz, 2009. "Convergence Analysis Among the Ten European Transition Economies," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 50(2), pages 17-35, December.
    4. Luboš Komárek & Kamila Koprnická & Petr Král, 2010. "Dlouhodobá reálná apreciace jako fenomén ekonomické konvergence [A Long-Term Real Appreciation as the Phenomenon of Economic Convergence]," Politická ekonomie, Prague University of Economics and Business, vol. 2010(1), pages 70-91.
    5. Jan Nevima & Ingrid Majerová, 2015. "Application of ß – Convergence Approach in Visegrad Four Regions," Working Papers 0004, Silesian University, School of Business Administration.
    6. Niccolò Comerio & Fausto Pacicco, 2024. "The role of tourism in reducing economic inequalities: the case of Italy," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(3), pages 839-880, October.
    7. Tomáš Želinský, 2010. "Analýza chudoby na Slovensku založená na koncepte relatívnej deprivácie [Analysis of Poverty in Slovakia Based on the Concept of Relative Deprivation]," Politická ekonomie, Prague University of Economics and Business, vol. 2010(4), pages 542-565.
    8. Borut Vojinović & Mariusz Próchniak, 2009. "Divergence Period in the European Convergence Process," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 15(4), pages 685-700, February.

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    More about this item

    Keywords

    European Union; economic growth; transitional economies; economic convergence;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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