ARTICLE
TITLE

Economic convergence of the Western Balkans towards the EU-15

SUMMARY

This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The empirical findings support the economic convergence hypothesis, with convergence rates ranging from 1.1% to 2.3%. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included. The main limitation of the research is the availability of data.

PAGES
pp. 41 - 53

 Articles related

Alberto José Figueras,Daniela Cristina,Valeria Blanco,Iván Iturralde,Marcelo Luis Capello    

Since Argentinian provinces’ economic growth is determined by idiosyncratic behaviour, its analysis is a valuable contribution to the studies on regional convergence. This paper takes on an analysis of Sigma and Beta convergence in Argentinian provinces ... see more


Paula Andrea Nieto Alemán,Jaime Alberto Rendón Acevedo    

This article seeks to answer two questions: Has the process of regional integration in Mercosur since its launch with the Treaty of Asunción (1991) contributed to reducing disparities in per capita income among countries in the region? Has there been con... see more


Iulia Andreea Bucur,Simona Elena Dragomirescu    

Although the convergence criteria in the Maastricht Treaty led to the creation of the EMU and the euro area has resisted more than some of its critics believed, in the context of major macroeconomic imbalances, the issue of nominal convergence has been t... see more


Syed Kanwar Abbas    

"[The financial crises] are caused by excesses frequently monetary excesses—which lead to a boom and an inevitable bust". Taylor (2009)The paper presents economic explanation of recessionary shocks and convergence mechanism within the context of Keynesia... see more

Revista: Market Forces

Farooq Rasheed,EATZAZ AHMED    

These included cross-country standard deviations of call money rates, consumer price indices, real exchange rates, growth rates of foreign exchange reserves, growth rates of real volume of trade, growth rate of real relative volume of trade and the growt... see more

Revista: Market Forces