Monthly Report No. 6/2013

Real economic convergence within the EU (by Rumen Dobrinsky; pp. 1- 5) Keywords convergence, panel regressions Countries covered European Union Topics Macroeconomic Analysis and Policy R&D and non-R&D innovators in the financial crisis the role of binding credit constraints (by Sandra M. Leitner and Robert Stehrer; pp. 6-12) Keywords innovation, R&D financing, credit rationing, panel regressions Countries covered Latin America Topics Sectoral studies Global output growth likely to be wage-led rather than profit-led (by Leon Podkaminer; pp. 13-15) Keywords wage-led growth, demand-led growth, globalization, capital formation Countries covered non-specific Topics Macroeconomic Analysis and Policy Statistical Annex Selected monthly data on the economic situation in Central, East and Southeast Europe (pp. 17-27)