This paper applies the statistical concepts of ơ-convergence and unconditional β - convergence to institutional development within several country groups hierarchized to the degree of European integration (e.g., euro area). Two sets of indicators are employed to measure institutional...

This paper applies the statistical concepts of σ-convergence and unconditional β‑convergence to institutional development within several country groups hierarchized to the degree of European integration (e.g., euro area). Two sets of indicators are employed to measure institutional...

There is an ongoing debate within the economic growth and development literature whether institutions or human capital are more decisive for explaining differences in economic performance across countries. Our study adds further arguments to this discussion by focusing on 35 European countries....