Stochastic Convergence of the European Union Countries: A Conditional Approach

Mariusz Próchniak () and Bartosz Witkowski

Collegium of Economic Analysis Annals, 2015, issue 39, 41-56

Abstract: The article is devoted to the analysis of the stochastic convergence of the EU countries to the EU15 GDP weighted average. Apart from the relatively common concept of stochastic absolute convergence, the conditional stochastic convergence is considered. In order to check for the latter, the Bayesian averaged model is used so as to attain the influence of the growth factors on the growth processes and in order to eliminate it from the series. The results indicate that only few countries converge stochastically, both in the absolute as well as in the conditional sense.

Keywords: stochastic convergence; Bayesian model averaging; absolute convergence; relative convergence (search for similar items in EconPapers)
JEL-codes: C22 C23 O47 O52 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sgh:annals:i:39:y:2015:p:41-56

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