Ordóñez, Javier; Sala, Hector; Silva, José Ignacio - 2014
uncovered through decomposition and cluster analyses. In the last three decades, the PIIGS (Portugal, Ireland, Italy, Greece …, and Spain) succeeded in reducing their RULCs by more than their northern partners. With the exception of Ireland, however … factor, and call for a renewed attention to real convergence indicators to strengthen the process of European integration. …