Do Balkan economies catch up with EU? New evidence from panel unit root analysis

Eftychia Tsanana () and Constantinos Katrakilidis

Empirica, 2014, vol. 41, issue 4, 662 pages

Abstract: This paper explores empirically the issue of income convergence for the Balkans over the period 1994–2011 and the investigation relies on income differentials from both the averages of the European Union’s-15 (EU-15) and the European Union’s-24 (EU-24) as well as within the Balkan group. The adopted methodology deploys the non stationary panel unit root framework to cope with the problem of limited sample providing more reliable insight and, in particular, the analysis uses the univariate and panel minimum Lagrange Multiplier (LM) unit root tests, suggested by Lee and Strazicich ( 2003 , 2004 ) and Im et al. ( 2005 ), that accounts for one and two endogenously determined structural breaks. The overall evidence is in favor of catching up with the EU benchmark cases as well as in favor of convergence within the Balkan area. However, disparities for some countries are confirmed. Copyright Springer Science+Business Media New York 2014

Keywords: Convergence; Panel unit root test; Structural breaks; Balkan countries; C23; C24; O47; O52 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s10663-013-9222-2

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