We propose a common factor approach to analyse convergence, which we implement using principal components analysis. This technique has not been used to analyse convergence of time series but is shown to provide a useful new tool. We show how it is in many ways a more natural way of approaching...

Although competitiveness is a world very often used in literature it is seldom to be found in economic textbook which prefer the term comparative advantage much narrowly defining formula describing international specialization. As Porter underlines comparative advantage and competitiveness...