Real convergence in the CEECs, euro area accession and the role of Romania

Monica Răileanu Szeles () and Nicolae Marinescu

European Journal of Comparative Economics, 2010, vol. 7, issue 1, 181-202

Abstract: The paper is aimed at studying the absolute and conditional convergence in the Central and Eastern European countries. Given that these countries have common roots and their economies have experienced similar challenges over time, the regional convergence in the CEE region might be seen as an intermediary stage of the CEE participation to the EMU. The case of Romania is particularly examined, with a focus on its macroeconomic performances and the role it plays in the process of regional convergence. In the empirical section the GDP growth is regressed upon a number of macroeconomic indicators in order to assess the absolute/ conditional convergence and to highlight the determinants of growth. The study has a longitudinal dimension and uses panel data techniques. Several estimators are used in order to get robust results and to allow us comparing the empirical findings. The paper finds empirical evidence on both absolute and conditional convergence in the CEE countries, and identifies the main drivers of regional growth. The presence of Romania among the CEE countries is a key element of the absolute convergence, while the conditional convergence occurs anyway. In the light of these results, the paper contributes to the growing literature in the field and brings additional evidence for convergence in the CEE region.

Keywords: Convergence; Romania; CEE countries; euro area (search for similar items in EconPapers)
JEL-codes: E30 O47 O52 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (22)

Downloads: (external link)
https://ejce.liuc.it/18242979201001/182429792010070108.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:liu:liucej:v:7:y:2010:i:1:p:181-202

Access Statistics for this article

European Journal of Comparative Economics is currently edited by Matteo Migheli, Giovanni Ramello, Koji Domon, Peter Grajzl, David M. Kemme, Marcello Signorelli and Richard Watt

More articles in European Journal of Comparative Economics from Cattaneo University (LIUC) Contact information at EDIRC.
Bibliographic data for series maintained by Laura Ballestra ().