Economic convergence of the Western Balkans towards the EU-15
This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow...
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| Format: | Article |
| Language: | English |
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Universidad Católica de Colombia
2019-02-01
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| Series: | Revista Finanzas y Política Económica |
| Subjects: | |
| Online Access: | https://editorial.ucatolica.edu.co/index.php/RFYPE/article/view/2873 |
| _version_ | 1797431051972247552 |
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| author | Sándor Gyula Nagy Dzenita Siljak |
| author_facet | Sándor Gyula Nagy Dzenita Siljak |
| author_sort | Sándor Gyula Nagy |
| collection | DOAJ |
| description | This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The empirical findings support the economic convergence hypothesis, with convergence rates ranging from 1.1% to 2.3%. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included.The main limitation of the research is the availability of data. |
| first_indexed | 2024-03-09T09:36:21Z |
| format | Article |
| id | doaj.art-ff2a5edd71ec433d9b5bf4652efc5742 |
| institution | Directory Open Access Journal |
| issn | 2248-6046 2011-7663 |
| language | English |
| last_indexed | 2024-03-09T09:36:21Z |
| publishDate | 2019-02-01 |
| publisher | Universidad Católica de Colombia |
| record_format | Article |
| series | Revista Finanzas y Política Económica |
| spelling | doaj.art-ff2a5edd71ec433d9b5bf4652efc57422023-12-02T02:00:45ZengUniversidad Católica de ColombiaRevista Finanzas y Política Económica2248-60462011-76632019-02-011114153https://doi.org/10.14718/revfinanzpolitecon.2019.11.1.3Economic convergence of the Western Balkans towards the EU-15Sándor Gyula NagyDzenita Siljak This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The empirical findings support the economic convergence hypothesis, with convergence rates ranging from 1.1% to 2.3%. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included.The main limitation of the research is the availability of data.https://editorial.ucatolica.edu.co/index.php/RFYPE/article/view/2873beta convergencewestern balkanseuropean unionold member stateseconomic growth |
| spellingShingle | Sándor Gyula Nagy Dzenita Siljak Economic convergence of the Western Balkans towards the EU-15 Revista Finanzas y Política Económica beta convergence western balkans european union old member states economic growth |
| title | Economic convergence of the Western Balkans towards the EU-15 |
| title_full | Economic convergence of the Western Balkans towards the EU-15 |
| title_fullStr | Economic convergence of the Western Balkans towards the EU-15 |
| title_full_unstemmed | Economic convergence of the Western Balkans towards the EU-15 |
| title_short | Economic convergence of the Western Balkans towards the EU-15 |
| title_sort | economic convergence of the western balkans towards the eu 15 |
| topic | beta convergence western balkans european union old member states economic growth |
| url | https://editorial.ucatolica.edu.co/index.php/RFYPE/article/view/2873 |
| work_keys_str_mv | AT sandorgyulanagy economicconvergenceofthewesternbalkanstowardstheeu15 AT dzenitasiljak economicconvergenceofthewesternbalkanstowardstheeu15 |