Old Wine in a New Bottle: Growth Convergence Dynamics in the EU
Journal article
Authors | Apergis, Nicholas |
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Abstract | In this paper, we explore convergence of real per capita output across the European Union (EU) countries, as well as the transitional behavior of possible underlying factors that are responsible for any convergence or divergence pattern. The new panel convergence methodology developed by Phillips and Sul (2007) is employed in a production function growth accounting approach and data from the Total Economy Database and the Total Economy Growth Accounting Database. The empirical findings suggest that the EU countries form two distinct convergent clubs, exhibiting considerable heterogeneity in the underlying growth factors. These findings should help policy makers in designing appropriate growth-oriented programs as well as in setting priorities in their implementation. |
Keywords | Growth convergence; Growth factors; Transition paths; EU countries; Logt test |
Year | 2010 |
Journal | Atlantic Economic Journal. |
Publisher | Springer |
Web address (URL) | http://hdl.handle.net/10545/623564 |
http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
hdl:10545/623564 | |
Publication dates | Jun 2010 |
Publication process dates | |
Deposited | 14 Mar 2019, 17:35 |
Contributors | University of Piraeus |
File | File Access Level Open |
File | File Access Level Open |
https://repository.derby.ac.uk/item/92wy2/old-wine-in-a-new-bottle-growth-convergence-dynamics-in-the-eu
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