ECONOMIC GOVERNANCE AS A TRIGGERING FACTOR FOR ECONOMIC CONVERGENCE ACROSS THE EUROPEAN UNION MEMBER STATES

Ioana Sorina Mihut ()
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Ioana Sorina Mihut: Babes-Bolyai University, Faculty of Economics and Business Administration, Cluj-Napoca, Romania

Interdisciplinary Management Research, 2015, vol. 11, 880-890

Abstract: The primary objective of the this paper is to investigate the process of convergence/divergence of the member states of the European Union taking into consideration the high degree of heterogeneity that characterizes these economies. On the one hand, there are the western economies with a high level of development and increased values associated with the GDP/capita variable, and on the other hand, we have the Central and Eastern economies which are emerging economies with markets that are characterized by a high level of volatility. Moreover from the 28 member states of the European Union, 19 countries currently use the euro as their national currency, Denmark and reat Britain benefit from the opt–out clause and the remaining seven countries are orientating their strategies towards achieving the euro zone membership. This paper focuses upon some contemporary aspects regarding the evolution of economic governance indicators as triggering factors for the process of convergence/divergence between the member states of the European Union. In recent years, achieving a sustainable degree of convergence has constituted one of the primary objectives of the national and the supra-national institutions in the economic governance area.

Keywords: Economic and Monetary Union; economic governance indicators; sustainable convergence; economic disparities; macroeconomic policies (search for similar items in EconPapers)
JEL-codes: O12 O43 (search for similar items in EconPapers)
Date: 2015
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