of the CEE countries and the reference emerging economies. We use two econometric methods: income-level convergence …) resulted from the mechanism of absolute convergence. There were signs, however, that the former group was subject to a … conditional beta convergence. (3) Rapid economic growth of the CEE-10 countries has been driven to a large extent by the increase …

The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from … accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and … benefits from monetary integration. The more serious problem is a lack of convergence which could imply serious risks during …