Growth and Economic Policy: Are There Speed Limits to Real Convergence?

Istvan P Szekely and Max Watson

Chapter 5 in Real Convergence in Central, Eastern and South-Eastern Europe, 2009, pp 98-123 from Palgrave Macmillan

Abstract: Abstract The concept of speed limits to real convergence can be interpreted in two different ways. It can mean factors that limit or enhance potential growth in the recently acceded EU member states (RAMS) — in other words, speed limits to the potential pace of real convergence. But it can also mean factors that limit adjustment capacity and/or create market imperfections and rigidities, that is, speed limits due to vulnerabilities. Both are important and will be dealt with in this chapter.

Keywords: Exchange Rate; Euro Area; Real Exchange Rate; Financial Development; Speed Limit (search for similar items in EconPapers)
Date: 2009
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Working Paper: Growth and Economic Policy: Are There Speed Limits to Real Convergence? (2007)
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DOI: 10.1057/9780230235434_6

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