Determinants of growth differences between Eastern and Southern EU countries: A panel-data approach

Helen Caraveli, Ioannis Chatzigiatroudakis and Evangelos Paravalos
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Helen Caraveli: Athens University of Economics and Business
Ioannis Chatzigiatroudakis: Athens University of Economics and Business
Evangelos Paravalos: Athens University of Economics and Business

No 201803, Working Papers from Athens University Of Economics and Business, Department of Economics

Abstract: Following the EU enlargements in the decade of 2000s, the economic significance of many eastern European Countries (EECs) was raised compared to southern EU countries, which still enjoy higher levels of development and standards of living. The phenomenon was aggravated from the worsened economic performance of the latter since the beginning of the crisis, resulting in a halt of their convergence process. This paper examines the basic factors underlying differences in growth paths between the eastern and the southern periphery of Europe through a country-level panel data econometric analysis. We identify the core variables determining economic growth for European countries and we conclude that differences in the economic performance between eastern and southern EU countries result from the different levels of their corresponding growth-driving variables.

Keywords: growth differences in EU countries; shift of economic dynamism; panel data; fixed effects; random effects; Arellano-Bond. (search for similar items in EconPapers)
JEL-codes: B O (search for similar items in EconPapers)
Pages: 28 pages
Date: 2018-03
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