Balkan Area and EU-15: An Empirical Investigation of Income Convergence

Tsanana, Eftychia; Katrakilidis, Constantinos; Pantelidis, Panagiotis

doi:10.1007/978-3-7908-2873-3_2

Cited by 9 publications

(3 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…It looks like there is no integrated agreement in the empirical literature on the significance and the line or course on which it is moving. On the other hand, the economic catch-up integration of the WB 6 towards the EU still shows no convergence [26,27]. Colak analyzed 33 EU (CEE 10, SEE 8, and EU 15) countries and found that economic governance has converged for each group of countries [28].…”

Section: Literature Reviewmentioning

confidence: 99%

Governance and Growth in the Western Balkans: A SVAR Approach

Djurovic¹,

Bojaj²

2021

Linear and Non-Linear Financial Econometrics -Theory and Practice

View full text Add to dashboard Cite

The quality of economic governance is one of the prerequisites for sustainable and faster economic development of the Western Balkan countries, having in mind their historical background, dissolution of the ex-Yugoslavia, specific economic circumstances during the transition recession of the 1990s, slow economic recovery at the beginning of the twenty-first century, strong impact of the global financial and economic crisis, and long and complexed path towards the European Union (EU). The main research problem in this paper is examining the dynamic relationships among government effectiveness, inflation, and GDP across Albania, Bosnia and Hercegovina, Kosovo, Montenegro, North Macedonia, and Serbia. We employ the Worldwide Governance Indicators of the World Bank, namely, the Governance Effectiveness Indicator, as one of the six broad dimensions of governance. Using a structural VAR approach, we examine the time-varying effects of economic governance shocks on inflation and economic growth dynamics for each of the Western Balkan (WB) countries in the period of January 2006 to December 2018. Our findings allow the WB policymakers to understand the impact of institutional strength involved in identifying the onset of sustainable development dynamics and the EU integration process in WB better and develop more effective government regulations that can be employed nationally.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Governance and Growth in the Western Balkans: A SVAR Approach

Djurovic¹,

Bojaj²

2021

Linear and Non-Linear Financial Econometrics -Theory and Practice

View full text Add to dashboard Cite

show abstract

“…However, the convergence rate and homogeneity of the club diminished in the crisis period. Tsanana, Katrakilidis, and Pantelidis (2013) investigate the issue of catching up between the Balkan countries and the EU-15 between 1989 and 2009. The results show that the income gap relative to the EU-15 remained significant.…”

Section: Literature Reviewmentioning

confidence: 99%

Do Transition Countries Converge towards the European Union?

Siljak

Nagy

2019

Baltic Journal of European Studies

View full text Add to dashboard Cite

The aim of this paper is to analyze if the Western Balkan and Eastern Partnership countries converge towards the twenty-eight members of the European Union. The relationships between the selected macroeconomic variables and per capita GDP growth rate are econometrically tested to support this research. The analyzed period is 2004–2017, with two sub-periods: 2004–2008 and 2009–2013. The subdivision is made to test whether the recent financial crisis affected the absolute and conditional convergence process in the analyzed group of countries. The empirical findings support the economic convergence hypothesis. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included in the analysis. The negative effects of the crisis on conditional convergence with economic and socio-political variables are not identified. The poorer countries in the analyzed group should do more to attract investment and open their economies, as gross fixed capital formation and economic openness have a positive impact on per capita growth, and keep low inflation or stabilize it, while general government debt and unemployment should be decreased in the examined sample of countries.

show abstract

“…The results show that the countries do not converge to the EU-15 level, or bilaterally to individual Member States. Tsanana et al (2013) investigate the issue of catching up between the Balkan countries and the EU-15 in the period 1989-2009. The results showed the existence of dissimilarities among the Balkan countries in the catching up process towards the EU-15.…”

Section: Literature Reviewmentioning

confidence: 99%

The effects of the crisis on the convergence process of the Western Balkan countries towards the European Union

Siljak¹,

Nagy

2018

Soc Ec

View full text Add to dashboard Cite

The aim of the paper is to analyze economic convergence of the Western Balkan countries towards the European Union member states with two types of measurement methodology, sigma and beta convergence. Sigma convergence measures the dispersion of real per capita GDP among the countries and beta convergence is based on the neoclassical growth theory. The main hypothesis of the paper is that the recent fi nancial crisis has negatively affected the convergence process of the Western Balkan countries towards the twenty-eight member states of the European Union (EU-28). The relationship between selected macroeconomic variables and the rate of per capita GDP growth are econometrically tested. Sigma and beta convergence are estimated for the period 2004-2013 and two sub-periods: 2004-2008 and 2009-2013. The empirical fi ndings support the hypothesis of economic convergence. The negative effects of the crisis on per capita GDP growth are confi rmed, resulting in a slower convergence process. Dissimilarities between the growth patterns of the analyzed groups show the considerable heterogeneity of growth, i.e. the convergence clubs.

show abstract

Balkan Area and EU-15: An Empirical Investigation of Income Convergence

Cited by 9 publications

References 20 publications

Governance and Growth in the Western Balkans: A SVAR Approach

Governance and Growth in the Western Balkans: A SVAR Approach

Do Transition Countries Converge towards the European Union?

The effects of the crisis on the convergence process of the Western Balkan countries towards the European Union

Contact Info

Product

Resources

About