Productivity Convergence in Europe

Mike Tsionas

Eastern Economic Journal, 2000, vol. 26, issue 3, 297-320

Abstract: The paper examines the convergence properties of productivity in fifteen European countries over the period 1960-1997. Empirical tests are performed for the "Maastricht proposition," according to which nominal convergence in rates of inflation is a prerequisite for real convergence. Modern econometric techniques for non-stationary time series, organized Around and cointegration analysis are used to examine within-group and between-group convergence. The number of common, long-run stochastic trends in productivity series is also examined. The results suggest strong evidence against unconditional or conditional convergence. However, European productivity time series can be described by a relatively small number of common long-run trends.

Keywords: Convergence; Productivity (search for similar items in EconPapers)
JEL-codes: O47 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:26:y:2000:i:3:p:297-320

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