Convergence: Theory and Evidence

Sascha Sardadvar ()
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Sascha Sardadvar: Vienna University of Economics and Business, Institute for Economic Geography and GIScience

Chapter Chapter 4 in Economic Growth in the Regions of Europe, 2011, pp 29-41 from Springer

Abstract: Abstract Considerations on growth theory inevitably raise the question of whether different economies converge to each other in terms of output, income, or related measures. Interest in cross-country disparities of wealth and their causes is omnipresent in international politics. In fact, the issue has become so important that it is now officially a major objective of the European Union, as discussed in the Introduction. Although there exist various definitions of what constitutes convergence, this study will refer to just one definition of convergence, which combines two concepts:

Keywords: Physical Capital; Absolute Convergence; Balance Growth Path; Gross Regional Product; Conditional Convergence (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-7908-2637-1_4

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DOI: 10.1007/978-3-7908-2637-1_4

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