Real and Nominal Convergence and the New EU Member States - Actual State and Implications

Žďárek, Václav; Šindel, Jaromír

doi:10.18267/j.pep.305

Cited by 8 publications

(2 citation statements)

References 16 publications

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“…The real convergence is based on the neoclassical growth theory, which deals with the convergence of economic variables to a steady state and is understood as convergence of economic level of one country to other country's economic level [32]. Real convergence is usually expressed in terms of GDP per capita.…”

Section: Real Convergence In the Visegrad Countriesmentioning

confidence: 99%

Is the Region of Visegrad Countries on the Track to the Euro Area? Recent Evidence from the Real Convergence Perspective

Stavárek¹,

Tomanova²

2014

EoR

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After enlargement of the European Union and subsequently joining of a new member states to the euro area, the question of economic convergence attracted considerable research interest. This paper adopts three alternative concepts to examine the level and trend of convergence in the Visegrad countries (Czech Republic, Hungary, Poland, Slovakia). We concurrently estimate the β-convergence, σ-convergence and business cycle synchronization to find out whether all countries are on the way towards higher convergence with the euro area. The results suggest that convergence of all countries has been increasing. However, the recent acceleration of the convergence process is caused mainly by external shocks in the form of the financial crisis and following economic slowdowns. Hence, the current level of convergence in the Visegrad countries cannot be considered as fully adequate.

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Section: Real Convergence In the Visegrad Countriesmentioning

confidence: 99%

Is the Region of Visegrad Countries on the Track to the Euro Area? Recent Evidence from the Real Convergence Perspective

Stavárek¹,

Tomanova²

2014

EoR

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“…There are many fiscal as well as monetary indicators, where convergence is desirable for further common development of the European Union as well as for enhancing its position in comparison with other developed countries. Most often the indicators of gross domestic product per head or real income per head are applied to the real convergence analysis (for example Martín et al, 2001, Žďárek and Šindel, 2007, Halmai and Vásáry, 2010, Dobrinsky and Havlik, 2014or ECB, 2015. Another group of authors is engaged in the nominal convergence analysis and monitor comparative price levels, interest rates or inflation rates development (de Grauwe and Schnabl, 2005, Hein and Truger, 2002, Žďárek and Šindel, 2007, Barbosa and Alves, 2011 or Groll and van Roye, 2011).…”

Section: Introductionmentioning

confidence: 99%

Competitiveness in the European Union: A Trend to Convergence?

Balcarová¹

2016

AAK

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The contribution verifies, whether the competitiveness of the European Union economies tends to converge or diverge. The competitiveness of a country is defined as the ability to create innovations. Innovations represent an important resource of the qualitative competitive advantage, which is crucial for sustainable competitiveness in the long term. We observed the composite indicator development in the time period 2000-2012 with focus on the trend dissimilarities in the European Union. We used a cluster analysis and beta and sigma convergence methods to the convergence/divergence tendency verification. The results of all three methods confirmed the converging trend of competitiveness in the European Union. We found out that initially less competitive economies are catching up with initially more competitive countries and the competitiveness of individual countries as well as the EU as a whole increase at the same time.

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