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...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...