An empirical analysis of the patterns of growth and convergence in the European Union since the introduction of the single currency
The Convergence process that had characterized the history of the European economic integration started to reverse since the early stages of the project of monetary unification. In particular the process of economic convergence shifted from Southern European countries and regions to Eastern Europe....
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| Tipo de recurso: | tesis doctoral |
| Fecha de publicación: | 2021 |
| País: | España |
| Institución: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/11424 |
| Acceso en línea: | https://hdl.handle.net/20.500.14352/11424 |
| Access Level: | acceso abierto |
| Palabra clave: | 330.34(4-6EU)(043.2) Desarrollo económico Países de la Unión Europea Economic development European Union countries Unión Europea (Unión Europea) 5310.91 Economía Internacional: Area Europea 5307.03 Modelos y Teorías del desarrollo Económico 5307.04 Estudios del desarrollo Económico |
| Sumario: | The Convergence process that had characterized the history of the European economic integration started to reverse since the early stages of the project of monetary unification. In particular the process of economic convergence shifted from Southern European countries and regions to Eastern Europe. Therefor e during the last two decades Eastern European countries and regions have been reducing the gap with the richer regions while the income and productivity gaps between the “Western” members of the EMU widened. This thesis has the general objective to empirically analyse and explain the evolution of the process of convergence in the European Union since the introduction of the single currency from different economic perspectives. Through the application of different econometrics techniques I will in dividuate three relevant economic “forces” that contributed to the emergence a bifurcated path of convergence in income per capita and labour productivity the European Union.The first “force” is directly linked to the adoption of the single currency that entailed too stringent fiscal rules for countries that opted to join the club. Some peripheral countries resulted particularly penalized by these fiscal rules that were also applied after 2008 in spite of the outbreak of the Global Financial crisis... |
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