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...

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...

Eight years after the onset of the "Great Recession," the eurozone is deeply split between "Northern" EMU economies that seem to be doing reasonably well and "Southern" countries that continue to struggle with socioeconomic catastrophe. This paper argues that the continuing malaise is a...

Coming from standard economic growth theory and empirical evidences, we concentrated on the convergence process as a result of structural changes in economy. We investigate the differences among countries in EU in terms of the share in total economy of main sectors. Then, based on the spatial...

We perform a robust estimation of the Phillips curve in the euro area using a battery of 630 theory-driven models. We extend the existing literature by adding model specifications, taking into account the uncertainty in the measurement of variables and testing for potential non-linearities and...

Romania has the highest share of EU rural areas (44.9% ), which generates and maintains a long series of regional disparities. Because of these disparities, the economy faces a number of elements that undermine the quality of human and social capital and reduces the potential for growth:...

There are evidences that the actual global crisis affected the convergence process in EU. Generally, just new adhered countries were more affected by the actual crisis. Today all forecasts are suffering by uncertainty. Last time, economists, with their methods and models, are invoked for actual...