The claim of globalization critics that the income gap to industrial countries is bound to widen for essentially all developing countries as a consequence of economic globalization is in conflict with empirical evidence. Economic performance differs tremendously across developing countries. We...

The main research aim is to investigate and test the long-term existence of a balanced relationship (cointegration) between business demographics and economic growth, expressed in terms of real GDP per capita, and to estimate the econometric models expressing relationships between analyzed...

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...

The aim of the article is to compare the total real GDP growth of European countries from the 3rd quarter of 2008 with the 3rd quarter of 2012, the period characterized by a predominant economic stagnation or economic recession in the majority of examined European countries. The countries are...

The middle-income trap (MIT) describes obstacles to sustainable growth experienced by some middle-income countries. The initial growth of emerging economies is often characterized by reliance on labor intense, import driven factors, facilitated by foreign direct investment (FDI). As it matures,...

Based on required growth rate and actual growth rate, this paper proposes a method to construct measures to indicate the probability of a country escaping the middle income trap (MIT). A second contribution of this paper is to model this probability using 1960–2015 cross-country data, focusing...