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Different convergence rates of new EU member states: Panel data analysis of the causes
Croatian Operational Research Review Pub Date : 2020-01-01 , DOI: 10.17535/crorr.2020.0023
Josip Viskovic , Pasko Burnac , Ivan Ramljak

This paper, using panel data analysis, tries to identify factors regarding the different convergence rates of CESEE EU member countries’ real income between 2002 and 2018. Stylized convergence facts are identified and the drivers of economic growth based on production function, i.e. the accumulation of labour and capital and total factor productivity (TFP) growth have been analysed. Moreover, paper takes into account other variables that have been recognized as growth determining factors - trade openness, FDI, labour market and integration level, as well as TFP determining factors - institutional quality, innovation and human capital. Based on the research results trade openness and gross capital formation have been identified as key factors regarding real income growth of analysed countries. Also, it has been confirmed that growth of CESEE countries is strongly affected by the growth of Eurozone. Finally, the authors’ conclusion is that several CESEE countries are facing institutional convergence challenges.

中文翻译:

欧盟新成员国收敛速度不同:成因面板数据分析

本文通过面板数据分析,试图识别2002-2018年间CESEE欧盟成员国实际收入不同收敛速度的因素。确定了程式化的收敛事实和基于生产函数的经济增长驱动因素,即分析了劳动力和资本以及全要素生产率 (TFP) 的增长。此外,本文还考虑了其​​他已被视为增长决定因素的变量——贸易开放、外国直接投资、劳动力市场和一体化水平,以及 TFP 决定因素——制度质量、创新和人力资本。根据研究结果,贸易开放和资本形成总额已被确定为影响所分析国家实际收入增长的关键因素。还,已经证实,CESEE国家的增长受到欧元区增长的强烈影响。最后,作者的结论是,几个 CESEE 国家正面临制度趋同的挑战。
更新日期:2020-01-01
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