REAL CONVERGENCE IN EUROPEAN UNION

Silvia Mărginean ()

Revista Economica, 2008, vol. 42-43, issue 5-6, 153-164

Abstract: In the last three years the European Union has succeeded in integrating twelve new members. EU declares that “enlargement is one of the EU’s most powerful policy tools”. After one year from Romania and Bulgaria’s accession, the main challenge is now to reduce the gap between the New Member States and EU 15, and this could be possible only by achieving nominal and real convergence. This study is focused on real convergence and its determinants. Our aim is to propose a composite index that measures real convergence. This index is based on some traditional views and measures (income, productivity, employment) but also includes some other issues like competitiveness and knowledge society. We have four areas of interest - economic growth, efficiency, competitiveness and information society - and for these four areas we determine the gap between Old and New Member States and we are suggesting some policy measures to reduce this gap.

Keywords: real convergence; European Union; real convergence index (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:42-43:y:2008:i:5-6:p:153-164

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