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Old Wine in New Bottle: What Really Causes Growth Convergence?

Apergis, Nicholas, Panopoulou, Ekaterini, Tsoumas, Chris (2010) Old Wine in New Bottle: What Really Causes Growth Convergence? Atlantic Economic Journal, 38 (2). pp. 169-181. ISSN 0197-4254. (doi:10.1007/s11293-010-9219-1) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL
https://doi.org/10.1007/s11293-010-9219-1

Abstract

In this paper, we explore convergence of real per capita output across the European Union (EU) countries, as well as the transitional behavior of possible underlying factors that are responsible for any convergence or divergence pattern. The new panel convergence methodology developed by Phillips and Sul (2007) is employed in a production function growth accounting approach and data from the Total Economy Database and the Total Economy Growth Accounting Database. The empirical findings suggest that the EU countries form two distinct convergent clubs, exhibiting considerable heterogeneity in the underlying growth factors. These findings should help policy makers in designing appropriate growth-oriented programs as well as in setting priorities in their implementation.

Item Type: Article
DOI/Identification number: 10.1007/s11293-010-9219-1
Uncontrolled keywords: Growth convergence . Growth factors . Transition paths . EU countries . Logt test
Subjects: H Social Sciences
H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > Kent Business School
Faculties > Social Sciences > Kent Business School > Accounting and Finance
Depositing User: Cathy Norman
Date Deposited: 10 Jul 2013 15:48 UTC
Last Modified: 29 May 2019 10:22 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/34607 (The current URI for this page, for reference purposes)
Panopoulou, Ekaterini: https://orcid.org/0000-0001-5080-9965
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