This paper assesses why the 2008–2009 global economic recession impacted East Asia less than it did the United States (US) and the European Union (EU). The paper utilizes a “growth-with-resilience” (GWR) index aimed at measuring the extent to which a country can absorb or counteract...

Romania's economic growth is a target that can be achieved only within the accordance of all the economic sectors with the Europe 2020 Strategy. As provided in the Convergence Programme 2014-2020, this objective entails a series of steps that Romania must rigorously follow in order to be able to...

We explain labor productivity differences of the service sector between Europe and the U.S. through the labor allocation taking place within the service sector. We measure labor productivity using a multisector structural transformation model that decomposes services into 11 sub-sectors...

Two major international frameworks provide landmarks for future development paths: the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement. Monitoring the progress towards achieving the individual goals has to consider a multitude of synergies and trade-offs. In this paper we...

This paper examines the role of sectors in aggregate convergence for 14 OECD countries during 1970-1987. The major finding is that manufacturing shows little evidence of either labor productivity or multifactor productivity convergence, while other sectors, especially services, are driving the...

This study mainly examines the role of macroeconomic policy variables associated with Maastricht Convergence Criteria (MC), using various approaches to analyze comparatively differences in growth and convergence in income, productivity, and unemployment between a developed, economically...

In the euro area, there is mixed evidence that the GDP per capita of lower-income economies has been catching up with that of higher-income economies since the start of monetary union. The significant real convergence performance of some of the most recent members contrasts with that of the...

In the euro area, there is mixed evidence that the GDP per capita of lower-income economies has been catching up with that of higher-income economies since the start of monetary union. The significant real convergence performance of some of the most recent members contrasts with that of the...