The European Model: Economic Growth, Convergence and Cohesion
The european model is confronted with a potential crise. Economic convergence concerns the gaps in living standards between countries: are they closing or widening, and at what speed? Are relatively poor economies to remain poor for many generations? Are the rich countries of next century to be the...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2006-08-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/137.pdf
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| _version_ | 1819264486865895424 |
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| author | Cristian Socol Aura Socol |
| author_facet | Cristian Socol Aura Socol |
| author_sort | Cristian Socol |
| collection | DOAJ |
| description | The european model is confronted with a potential crise. Economic convergence concerns
the gaps in living standards between countries: are they closing or widening, and at what speed? Are
relatively poor economies to remain poor for many generations? Are the rich countries of next century to
be the same as relatively rich countries of nowadays? Is the degree of income inequality across economies
increasing or falling over time? Posing these questions, motivating convergence debate, immediately
raises the problem of the variable/variables that need to be considered. In our study, prior to
providing answers to these questions, basic definitions concerning convergence in European model are
followed by an overview of specific features, achievements and hurdles countries have had to overcome
on their way from centrally planned towards market economy. After that, a summary of Solow-Swan
model of economic growth is offered. Concept of convergence emerges here as a natural implication of
the model. The distinctions between Solow-Swan model and endogenous growth model are stated.
Finally, some measures of macroeconomic policy for sustainable growth are presented and interpreted in
connection with real macroeconomic situation of the Romanian economy. |
| first_indexed | 2024-12-23T20:30:15Z |
| format | Article |
| id | doaj.art-2f9d4a7f09da49ffbd8bacc0907d19c4 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-23T20:30:15Z |
| publishDate | 2006-08-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-2f9d4a7f09da49ffbd8bacc0907d19c42022-12-21T17:32:16ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292006-08-01XIII818418678The European Model: Economic Growth, Convergence and CohesionCristian Socol0Aura Socol1 Academia de Studii Economice Bucuresti The european model is confronted with a potential crise. Economic convergence concerns the gaps in living standards between countries: are they closing or widening, and at what speed? Are relatively poor economies to remain poor for many generations? Are the rich countries of next century to be the same as relatively rich countries of nowadays? Is the degree of income inequality across economies increasing or falling over time? Posing these questions, motivating convergence debate, immediately raises the problem of the variable/variables that need to be considered. In our study, prior to providing answers to these questions, basic definitions concerning convergence in European model are followed by an overview of specific features, achievements and hurdles countries have had to overcome on their way from centrally planned towards market economy. After that, a summary of Solow-Swan model of economic growth is offered. Concept of convergence emerges here as a natural implication of the model. The distinctions between Solow-Swan model and endogenous growth model are stated. Finally, some measures of macroeconomic policy for sustainable growth are presented and interpreted in connection with real macroeconomic situation of the Romanian economy. http://store.ectap.ro/articole/137.pdf economic growthregional policyendogenous growth |
| spellingShingle | Cristian Socol Aura Socol The European Model: Economic Growth, Convergence and Cohesion Theoretical and Applied Economics economic growth regional policy endogenous growth |
| title | The European Model: Economic Growth, Convergence and Cohesion |
| title_full | The European Model: Economic Growth, Convergence and Cohesion |
| title_fullStr | The European Model: Economic Growth, Convergence and Cohesion |
| title_full_unstemmed | The European Model: Economic Growth, Convergence and Cohesion |
| title_short | The European Model: Economic Growth, Convergence and Cohesion |
| title_sort | european model economic growth convergence and cohesion |
| topic | economic growth regional policy endogenous growth |
| url |
http://store.ectap.ro/articole/137.pdf
|
| work_keys_str_mv | AT cristiansocol theeuropeanmodeleconomicgrowthconvergenceandcohesion AT aurasocol theeuropeanmodeleconomicgrowthconvergenceandcohesion AT cristiansocol europeanmodeleconomicgrowthconvergenceandcohesion AT aurasocol europeanmodeleconomicgrowthconvergenceandcohesion |