Triggering factors for economic convergence and stability across central and eastern European countries

Ioana Sorina Mihuț, Larisa Nicoleta Pop and Andreea Maria Pece
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Ioana Sorina Mihuț: Bucharest University of Economic Studies, Romania
Larisa Nicoleta Pop: Bucharest University of Economic Studies, Romania
Andreea Maria Pece: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2015, vol. XXII, issue Special(II), 253-268

Abstract: The primary objective of this article is to evaluate the degree of convergence and establish the triggering factors of the economic growth process across the group of countries that joined EU in 2004 and 2007 for the time period between 1992 and 2012. To achieve this objective we developed an empirical analysis using the panel GMM methodology. The results provide guidance for future policies, emphasizing that the infusion of technological progress by increasing spending on research and development, increasing the degree of economic openness and rising the foreign direct investment flow represent the main sources of growth and convergence.

Keywords: Economic and Monetary Union; macroeconomic policies; economic growth; market stability. (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:253-268

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