The EU candidate and potential candidate countries have made considerable progress in economic transition and integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the euro area remain large. This suggests that the...

This paper analyses real income convergence in central, eastern and south-eastern Europe (CESEE) to the most advanced EU economies between 2000 and 2016. The relevance of this topic stems both from the far-reaching implications of real income convergence for economic welfare and the importance...

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...

By the Treaty of Accession to the EU, Romania opted for the euro adoption. According to the Maastricht Treaty, since 2014 Romania has fulfilled the nominal convergence criteria, thus becoming apt to adopt the euro. But a careful analysis of the reality and the lessons learnt from the Euro Area...

Early, the convergence theory was suggestively expressed in the Solow model. This can be shown in line with the fact that while economic development is advancing (expressed by the income per capita growth), on long run there is a general convergence process among countries. Generally, empirical...

The cross-country regression relating the relative price level to the relative GDP level is significant and stable. But there is no shorter-term trade-off between fast real convergence and low inflation. Such a tradeoff characterises the dynamic process moving the economy along the regression...

The EU candidate and potential candidate countries have made considerable progress in economic transition and integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the euro area remain large. This suggests that 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...

This paper analyses real income convergence in central, eastern and south-eastern Europe (CESEE) to the most advanced EU economies between 2000 and 2016. The relevance of this topic stems both from the far-reaching implications of real income convergence for economic welfare and the importance...

In the European Union, one of the primary goals of integration is the convergence of the regional income per capita (and of other significant socio-economic indicators), and hence, how to generate a process of convergence. In the economic literature, theories of convergence and divergence...