Old Wine in a New Bottle: Growth Convergence Dynamics in the EU
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 an...
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| Veröffentlicht in: | Atlantic economic journal 2010-06, Vol.38 (2), p.169-181 |
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| creator | Apergis, Nicholas Panopoulou, Ekaterini Tsoumas, Chris |
| description | 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. |
| doi_str_mv | 10.1007/s11293-010-9219-1 |
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These findings should help policy makers in designing appropriate growth-oriented programs as well as in setting priorities in their implementation.</description><subject>Accounting</subject><subject>Analysis</subject><subject>C32</subject><subject>C33</subject><subject>Clubs</subject><subject>Convergence</subject><subject>Convergence (Social sciences)</subject><subject>Econometrics</subject><subject>Economic development</subject><subject>Economic growth</subject><subject>Economic policy</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>EU countries</subject><subject>Europe</subject><subject>European Union</subject><subject>Forecasts and trends</subject><subject>GDP</subject><subject>Gross Domestic Product</subject><subject>Growth convergence</subject><subject>Growth factors</subject><subject>Growth rate</subject><subject>Human capital</subject><subject>Hypotheses</subject><subject>International Economics</subject><subject>Labor productivity</subject><subject>Logt test</subject><subject>Macroeconomics/Monetary Economics//Financial Economics</subject><subject>Methodology</subject><subject>Microeconomics</subject><subject>O40</subject><subject>O47</subject><subject>Panel data</subject><subject>Per capita</subject><subject>Per capita output</subject><subject>Political economy</subject><subject>Production functions</subject><subject>Public Finance</subject><subject>Regionalism</subject><subject>Studies</subject><subject>Transition 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| identifier | ISSN: 0197-4254 |
| ispartof | Atlantic economic journal, 2010-06, Vol.38 (2), p.169-181 |
| issn | 0197-4254 1573-9678 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_761029650 |
| source | RePEc; PAIS Index; SpringerNature Complete Journals; EBSCOhost Business Source Complete |
| subjects | Accounting Analysis C32 C33 Clubs Convergence Convergence (Social sciences) Econometrics Economic development Economic growth Economic policy Economics Economics and Finance EU countries Europe European Union Forecasts and trends GDP Gross Domestic Product Growth convergence Growth factors Growth rate Human capital Hypotheses International Economics Labor productivity Logt test Macroeconomics/Monetary Economics//Financial Economics Methodology Microeconomics O40 O47 Panel data Per capita Per capita output Political economy Production functions Public Finance Regionalism Studies Transition paths |
| title | Old Wine in a New Bottle: Growth Convergence Dynamics in the EU |
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