Naslov
Convergence in Central and Eastern Europe: Can All Get to EU Average?

Autori
Mihaljek, Dubravko

Izvornik
Comparative Economic Studies (0888-7233) 60 (2018), 2; 217-229

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Convergence ; Per capita income ; European Union ; Central and Eastern Europe ; Great Financial Crisis
(Convergence · Per capita income · European Union · Central and Eastern Europe · Great Financial Crisis)

Sažetak
This note examines recent evidence on the convergence of per capita incomes in Central and Eastern Europe. The motivation for revisiting this topic is a revival of interest among policymakers in speeding up the convergence process, after it apparently stalled during the financial crisis of 2008– 2012 and the subsequent slow recovery. There are two main findings. First, the choice of benchmarks can make a significant difference for assessments of convergence. Most studies seem to ignore this “fine print” of data. Second, despite disappointments, the goal of convergence remains a useful anchor for economic policy in CEE. Going forward, it would be important to recognise that convergence is a slow process, but nevertheless requires sustained reforms to avoid prolonged periods of stagnation or pronounced booms and busts.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA