Real Convergence To Eu Income Levels

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Real Convergence to EU Income Levels

Author : Mr.Peter Doyle
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451856644
Total Pages : 0 pages
Book Rating : 4.8/5 (566 download)

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Book Synopsis Real Convergence to EU Income Levels by : Mr.Peter Doyle

Download or read book Real Convergence to EU Income Levels written by Mr.Peter Doyle and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-09-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses factors likely to shape the nature and pace of economic growth of five Central European transition countries now engaged in accession to the European Union. It is organized around the standard growth accounting framework. The paper reviews the growth of these countries since 1990 and draws lessons from the growth experiences of other regions since the 1950s, shedding light on long-term growth prospects for these countries. It discusses a set of growth calculations and highlights the key uncertainties in them.

Real convergence to EU income levels

Author : Peter Doyle
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Real convergence to EU income levels by : Peter Doyle

Download or read book Real convergence to EU income levels written by Peter Doyle and published by . This book was released on 2001 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Convergence in the Euro Area: Coming Together or Drifting Apart?

Author : Mr.Jeffrey R. Franks
Publisher : International Monetary Fund
ISBN 13 : 1484338499
Total Pages : 47 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Economic Convergence in the Euro Area: Coming Together or Drifting Apart? by : Mr.Jeffrey R. Franks

Download or read book Economic Convergence in the Euro Area: Coming Together or Drifting Apart? written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 2018-01-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.

European Integration and Income Convergence

Author : Carmela Martín
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis European Integration and Income Convergence by : Carmela Martín

Download or read book European Integration and Income Convergence written by Carmela Martín and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prospect of enlarging the European Union (EU) to Central and Eastern European countries with income levels far below those of present members, questions how, and when the candidates' aspiration to converge towards EU standards of living, could possibly by fulfilled. To address these questions, this paper seeks to assess of the convergence experience of the four less developed EU members, i.e., Spain, Portugal, Ireland, and Greece, after joining the EU, and, to explore what lessons can be learned from that experience. The discussion suggests that, while theoretically possible, there is little empirical reason to fear that European integration would cause economies to diverge. Rather than being spontaneous, however, real convergence would seem to depend crucially, on the capacity of countries to tap international technological spillovers, particularly through foreign direct investment. Macroeconomic stability, effective competition on goods, and factor markets, and, a good human capital endowment are essential to harness benefits. Nonetheless, lingering worries about the possibility that integration would lead to real divergence between countries, or regions of Europe, has led to the creation of large transfers under the EU's Regional Policy. Pending more conclusive evidence of their effectiveness, the candidate countries would seem wise to put greater store by those domestic policies, than by EU grants to fuel their convergence.

Real Convergence to EU Income Levels

Author : Peter Doyle
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Real Convergence to EU Income Levels by : Peter Doyle

Download or read book Real Convergence to EU Income Levels written by Peter Doyle and published by International Monetary Fund. This book was released on 2001 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume I

Author : Michael Landesmann
Publisher : Springer Nature
ISBN 13 : 3030576868
Total Pages : 328 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume I by : Michael Landesmann

Download or read book Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume I written by Michael Landesmann and published by Springer Nature. This book was released on 2021-02-11 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume analyses how EU membership influenced the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. It also explores countries that are candidates for future EU membership. The speed of convergence of significant groups of low- and medium-income countries has never been as fast globally as it is today. Contributions by lead researchers of the area explore whether these countries are converging faster than their fundamentals and global trends would suggest because of EU membership, with its much tighter institutional and political anchorage

Europe's Income, Wealth, Consumption, and Inequality

Author : Georg Fischer
Publisher : Oxford University Press
ISBN 13 : 0197545726
Total Pages : pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis Europe's Income, Wealth, Consumption, and Inequality by : Georg Fischer

Download or read book Europe's Income, Wealth, Consumption, and Inequality written by Georg Fischer and published by Oxford University Press. This book was released on 2020-10-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: European integration is focused on improving economic performance and increasing income levels in nations across the European Union. Political leaders and the media often use income trends to measure this progress, with inequality moving more and more to the forefront of these conversations. In this book, contributing authors focus on the economies within the EU, its member countries, and other European countries closely associated with the EU. The book includes an overview of economic and social trends, using long-term processes of European integration as a way to frame the discussions. Georg Fischer, Robert Strauss, and their contributors focus on explaining how policy makers and the media focus on national trends to measure progress among the nations in Europe. They make a specific point to look at the EU as an economic and political entity whose parts are closely interlinked rather than as a conglomerate of individual countries. The contributors consider the commonalities and differences between various institutions and policies, explaining how a decision in one country might impact another. Europe's Income, Wealth, Consumption, and Inequality offers a novel approach to the analysis of social and economic trends, and the resulting book identifies major policy challenges applicable in the EU and beyond.

Five Years of an Enlarged EU

Author : Filip Keereman
Publisher : Springer Science & Business Media
ISBN 13 : 3642125166
Total Pages : 275 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Five Years of an Enlarged EU by : Filip Keereman

Download or read book Five Years of an Enlarged EU written by Filip Keereman and published by Springer Science & Business Media. This book was released on 2010-07-23 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fifth Enlargement that took place in 2004 and 2007 was a milestone in the history of the European Union. Not only because of the large number of acceding countries but also because of their recent political and economic experience. Ten of them had undergone a profound transition from a totalitarian regime to democracy, and from a centrally planned economy to a market-based system. Most of them had income levels signi?cantly below those of the then EU-15. Now, 6 years later, we can clearly see that the process of European integration, both before and after 2004, was what enabled Europe to overcome the gaps between various parts of the continent. The enlargement made Europe a better and wealthier place and streng- ened its position in the world. Integration into the European Union has always been one of the strongest incentives for reform in the new Member States. Particularly important in my view have been the development of ?nancial markets through foreign direct investment and capital in?ows, and the opening of labour markets – which was a two-way phenomenon, with markets being opened up in acceding as well as the incumbent Member States. The Fifth Enlargement was thus an exercise of glo- lisation in miniature, a practice run for the Union to tackle the challenges of the ever smaller world.

Living Standards and the Wealth of Nations

Author : Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz
Publisher : MIT Press
ISBN 13 : 0262025957
Total Pages : 443 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Living Standards and the Wealth of Nations by : Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz

Download or read book Living Standards and the Wealth of Nations written by Chairman of the Center for Social and Economic Research and the Foundation for Economic Education Professor of Economics Leszek Balcerowicz and published by MIT Press. This book was released on 2006 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: After general discussions of the theoretical requirements for "rapid catch up" and the possible link between democracy and growth, the book presents global case studies of both non-EU and EU countries, including a provocative comparison of growth in the transition economies of the CEE (Central and Eastern Europe) nations and the 12 non-Baltic states of the former Soviet Union. It then considers nominal as opposed to real convergence in the European Monetary Union. Taken together, the chapters present a consistent argument that reliance on market forces within an open economy in a stable macroeconomic environment, with assured property rights, is the key to rapid economic growth. Offers detailed theoretical and empirical examinations of what makes for successful convergence. This book presents global case studies of both non-EU and EU countries, including a provocative comparison of growth in the transition economies of the CEE (Central and Eastern Europe) nations and the 12 non-Baltic states of the former Soviet Union. A group of prominent international economists consider what makes for successful convergence - what policies and economic conditions help poor countries catch up to the living standards of rich countries. The question of convergence, or under what conditions the per capita income levels of developing countries can catch up to those found in advanced economies, is critical for understanding economic growth and development. Convergence has happened in many countries and appears to be taking place now in China and India - yet in general per capita income levels in the poorer countries do not converge towards those of richer countries as uniformly as the analytical models predict. "Living Standards and the Wealth of Nations", which grew out of a 2003 conference on convergence hosted by the National Bank of Poland, offers detailed theoretical and empirical examinations of what makes for successful convergence.

Economic Convergence and Divergence in Europe

Author : Gertrude Tumpel-Gugerell
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781951286
Total Pages : 498 pages
Book Rating : 4.9/5 (512 download)

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Book Synopsis Economic Convergence and Divergence in Europe by : Gertrude Tumpel-Gugerell

Download or read book Economic Convergence and Divergence in Europe written by Gertrude Tumpel-Gugerell and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge : 1. Introductory session. - 2. Past convergence within the European Union. - 3. Accesion countries : achievements in real convergence. - 4. Accesion countries : how to balance real and nominal convergence challenges for monetary and exchange rate policy. - 5. Does the financial sector contribute to real growth? - 6. Is there somebody left out in the cold? prospects of CEE countries other than current accesion countries. - 7. Policy challenges within the (enlarged) EU : how to foster economic convergence?

Overshooting the Maastricht Criteria

Author : Menbere Workie Tiruneh
Publisher :
ISBN 13 : 9781536135855
Total Pages : 0 pages
Book Rating : 4.1/5 (358 download)

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Book Synopsis Overshooting the Maastricht Criteria by : Menbere Workie Tiruneh

Download or read book Overshooting the Maastricht Criteria written by Menbere Workie Tiruneh and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While mainstream economists were convinced they had solved the business cycle phenomena of macroeconomic policy making, the Great Recession has once again underscored the verdict of history, where every boom has almost always been accompanied by a bust and recession. The book discusses theoretical controversies and state-of-the art empirical studies on the link between external imbalances and real income convergence in the European Union. The book shows successful real income convergence across the European Union on the country level and pinpoints persistent regional disparities within countries in most of the member states of the European Union. The book addresses broader aspects of external imbalances and their key determinants and provides fresh empirical and exploratory evidence on paradigm shifts in the past several decades. This book also empirically estimates both the causality between public debt and economic growth as well as the optimum level of public debt for EU member states. Additionally, the book discusses the link between illicit capital flows and external imbalances in the European Union. Overall, the book critically investigates both theoretical frameworks of global imbalances and systematically evaluates milestones and paradigm shifts in global imbalances; it also offers new empirical results based on the panel data of both old and new EU member states in the past several decades. Finally, the book addresses a number of the policy challenges, disputes and controversies in the European Union in terms of solving the ongoing external imbalances and harmonizing policies to prevent future challenges.

International Finance and Income Convergence

Author : Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis International Finance and Income Convergence by : Abdul Abiad

Download or read book International Finance and Income Convergence written by Abdul Abiad and published by International Monetary Fund. This book was released on 2007-03 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies conclude that the ongoing global financial integration may have had little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to rich countries. And, when it does flow into the less developed economies, it is negatively correlated with growth, calling into question the desirability of foreign capital. In this paper we report that Europe-including the new member states of the European Union-provides a counterexample to these global anomalies. With increasing financial integration, capital in Europe has traveled "downhill" from rich to poor countries, and has done so with gathering strength. These inflows have been associated with significant acceleration of income convergence.

Real Convergence in Central, Eastern and South-Eastern Europe

Author : R. Martin
Publisher : Springer
ISBN 13 : 0230235433
Total Pages : 221 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Real Convergence in Central, Eastern and South-Eastern Europe by : R. Martin

Download or read book Real Convergence in Central, Eastern and South-Eastern Europe written by R. Martin and published by Springer. This book was released on 2009-02-27 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together policymakers, high-level practitioners, academics, and experts from central banks and international institutions in order to review key policy challenges for convergence in the region of central, eastern and south-eastern Europe. Contributions focus especially on inflation, growth, migration and the balance of payments.

Real Convergence in the Enlarged Euro Area

Author : Nils Björkstén
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Real Convergence in the Enlarged Euro Area by : Nils Björkstén

Download or read book Real Convergence in the Enlarged Euro Area written by Nils Björkstén and published by . This book was released on 2000 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Growth and Income Convergence in Transition

Author : Rok Spruk
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Economic Growth and Income Convergence in Transition by : Rok Spruk

Download or read book Economic Growth and Income Convergence in Transition written by Rok Spruk and published by . This book was released on 2018 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the evolution of income per capita for a sample of high-income transition countries in the period 1991-2007. The analysis focuses on the dynamics of income per capita convergence throughout the period. We review patterns of income dispersion in Central Europe in a historical perspective and examine the dynamics of convergence over time. We present the model of beta and sigma convergence in augmented Solow model with human capital accumulation. Our evidence suggests that high-income transition countries experienced a period of robust convergence as the income per capita differential, relative to the U.S level, diminished substantially over time. The increase in the stock of human capital contributed substantially to the speed of real convergence.

Enhancing Income Convergence in Central Europe After EU Accession

Author : Patrick Lenain
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (224 download)

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Book Synopsis Enhancing Income Convergence in Central Europe After EU Accession by : Patrick Lenain

Download or read book Enhancing Income Convergence in Central Europe After EU Accession written by Patrick Lenain and published by . This book was released on 2004 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: "After nearly fifteen years of transition, the countries of Central Europe have entered the European Union on 1 May 2004. The present chapter examines the consequences of this event for the four acceding countries that are members of the OECD (Czech Republic, Hungary, Poland and Slovak Republic) ... It is hoped that membership in the European Union (EU) will not only lock in the progress achieved so far, but will also speed up the convergence of GDP per capita to western European levels .. The income gaps that would have to be bridged to fulfil these hopes are large in comparison to those of prior EU entrants." -- P. 5.

The Distribution Dynamics of Income in Central and Eastern Europe Relative to the EU

Author : Nikolay Nenovsky
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Distribution Dynamics of Income in Central and Eastern Europe Relative to the EU by : Nikolay Nenovsky

Download or read book The Distribution Dynamics of Income in Central and Eastern Europe Relative to the EU written by Nikolay Nenovsky and published by . This book was released on 2013 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: After more than two decades of transition and integration, countries in Central and Eastern Europe (CEE) still exhibit income levels that are significantly lower than the European Union (EU) average. This paper examines convergence in per-capita GDP between CEE and the EU over the period 1990-2012 by employing a combination of parametric and nonparametric methods, which provide more detailed insights than previous studies. The results indicate that the first decade of transition has been marked by divergence from the EU benchmark. In contrast, CEE countries experienced strong convergence over the 2000s, even in the face of the global financial crisis. However, the distribution of relative income evolved from a unimodal to a multimodal one, revealing growing disparities within CEE. Human capital accumulation and progress in economic reforms are identified as the key determinants of convergence, while financial deepening and price instability had a negative effect, especially in the past decade.