Titulo:
Convergencia económica de los Balcanes Occidentales hacia la UE-15.
.
Sumario:
El objetivo de este estudio es analizar la convergencia beta de los países de los Balcanes Occidentales hacia los Estados miembros de la UE-15 en el periodo 2004-2016 y dos subperiodos: 2004-2008 y 2009-2013. La convergencia beta se basa en la teoría del crecimiento neoclásico y pone a prueba la hipótesis de que los países pobres tienden a crecer más rápido que los países ricos, en términos per cápita. Los hallazgos empíricos apoyan la hipótesis de convergencia económica, con tasas de convergencia que van del 1.1% al 2.3%. Los resultados muestran que la reciente crisis financiera afectó negativamente el proceso de convergencia absoluta y condicional, cuando se incluyen variables económicas. La principal limitación de la investigación es la... Ver más
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Sándor Gyula Nagy, Dzenita Siljak - 2019
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Convergencia económica de los Balcanes Occidentales hacia la UE-15. Economic convergence of the Western Balkans towards the EU-15. El objetivo de este estudio es analizar la convergencia beta de los países de los Balcanes Occidentales hacia los Estados miembros de la UE-15 en el periodo 2004-2016 y dos subperiodos: 2004-2008 y 2009-2013. La convergencia beta se basa en la teoría del crecimiento neoclásico y pone a prueba la hipótesis de que los países pobres tienden a crecer más rápido que los países ricos, en términos per cápita. Los hallazgos empíricos apoyan la hipótesis de convergencia económica, con tasas de convergencia que van del 1.1% al 2.3%. Los resultados muestran que la reciente crisis financiera afectó negativamente el proceso de convergencia absoluta y condicional, cuando se incluyen variables económicas. La principal limitación de la investigación es la disponibilidad de datos.  This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The empirical findings support the economic convergence hypothesis, with convergence rates ranging from 1.1% to 2.3%. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included. The main limitation of the research is the availability of data. Nagy, Sándor Gyula Siljak, Dzenita Western balkans European union Economic growth Old member states Beta convergence Convergencia beta Balcanes occidentales Unión europea Crecimiento económico Antiguos estados miembros Convergência beta Bálcãs ocidentais União europeia Crescimento econômico Antigos estados-menbros 11 1 Artículo de revista Journal article 2019-01-01T00:00:00Z 2019-01-01T00:00:00Z 2019-01-01 application/pdf text/html text/xml Universidad Católica de Colombia Revista Finanzas y Política Económica 2248-6046 2011-7663 https://revfinypolecon.ucatolica.edu.co/article/view/2873 10.14718/revfinanzpolitecon.2019.11.1.3 https://doi.org/10.14718/revfinanzpolitecon.2019.11.1.3 eng https://creativecommons.org/licenses/by-nc-sa/4.0 Sándor Gyula Nagy, Dzenita Siljak - 2019 Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. 41 53 Alcidi, C., Núñez Ferrer, J., Di Salvo, M., Pilati, M. & Musmeci, R. (2018). Income Convergence in the EU: A tale of two speeds. CEPS Commentary, 9 January 2018. Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. Quarterly Journal of Economics, 106(2), 407-443. https://doi.org/10.2307/2937943 Barro, R. J. & Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251. https://doi.org/10.1086/261816 Benczes, I. & Szent-Ivanyi, B. (2015). The European economy in 2014: Fragile recovery and convergen- ce. JCMS: Journal of Common Market Studies, 53, 162-180. https://doi.org/10.1111/jcms.12266 Berend, I. T. (2016). An economic history of twentieth-century Europe: Economic regimes from laissez- faire to globalization. Cambridge University Press. https://doi.org/10.1017/CBO9781316479889 Bićanić, I., Deskar-Škrbić, M. & Zrnc, J. (2016). A Narrative Explanation of Breakpoints and Convergence Patterns in Yugoslavia and its Successor States 1952-2015. The wiiw Balkan Observatory Working Papers 122. Borys, M. M., Polgár, È. K. & Zlate, A. (2008). Real convergence and the determinants of growth in EU candidate and potential candidate countries. A panel data approach. European Central Bank. Botrić, V. (2013). Output Convergence between Western Balkans and EU-15. Research in Economics and Business: Central and Eastern Europe, 5(1), 46-62. Chapsa, X., Tsanana, E. & Katrakilidis, C. (2015). Growth and Convergence in the EU-15: More Evidence from the Cohesion Countries. Procedia Economics and Finance, 33, 55-63. https://doi.org/10.1016/S2212-5671(15)01693-7 Colak, O. (2015). Convergence Revisited: Case of EU and Eastern Europe. Regional Science Inquiry, 7(1), 69-81. El Ouardighi, J. & Somun-Kapetanovic, R. (2007). Do Balkan Countries Have a European Future? An Analysis of Real Economic Convergence, 1989-2005. South East European Journal of Economics and Business, 2(2), 23-30. https://doi.org/10.2478/v10033-007-0002-4 European Commission. (2015). Economic Reform Programmes of Albania, The Former Yugoslav Republic of Macedonia, Montenegro, Serbia, Turkey, Bosnia and Herzegovina and Kosovo: The Commission’s overview and Country assessments. Publications Office of the European Union, Luxembourg. European Commission. (2018). Convergence Report. Institutional Paper 078. Publications Office of the European Union, Luxembourg. Eurostat. (2018). Eurostat Database, https://www.ec.europa.eu/Eurostat Grela, M., Majchrowska, A., Michałek, T., Mućk, J., Staźka-Gawrysiak, A., Tchorek, G. & Wagner, M. (2017). Is Central and Eastern Europe converging towards the EU-15? Narodowy Bank Polski, Education & Publishing Department. International Monetary Fund. (2018). World Economic Outlook Database, https://www.imf.org Jelnikar, E. & Murmayer, U. (2006). Convergence in Europe. Empirical Analysis on Two Groups of Countries of the European Union. Document presented at the International Conference on Human and Economic Resources, 246-260. Joshi, B., Atoyan, R. & Roaf, M. J. (2014). Regional Economic Issues - Special Report 25 Years of Transition: Post-Communist Europe and the IMF. International Monetary Fund. Matkowski, Z. & Próchniak, M. (2004). Economic convergence in the EU accession countries. Composite Indicators of Business Activity for Macroeconomic Analysis (‘The RIED Papers and Proceedings’, vol. 74), SGH, Warsaw, 405-425. Micallef, B. (2017). The process of Economic Convergence in Malta and in the European Union. Central Bank of Malta Policy Note, Central Bank of Malta, Valletta. Retrieved from: https://www.centralbankmalta.org/file.aspx?f=51536 Oblath, G., Palocz, E., Popper, D. & Valentinyi, Á. (2015). Economic convergence and structural change in the new member states of the European Union. Center for Economic and Regional Studies, Hungarian Academy of Science. Pipień, M. & Roszkowska, S. (2018). The heterogeneity of convergence in transition countries. Post- Communist Economies, 31(1), 1-31. https://doi.org/10.1080/14631377.2018.1443245 Podkaminer, L. (2013). Development Patterns of Central and East European Countries (in the course of transition and following EU accession). Vienna Institute for International Economic Studies. Sala-i-Martin, X. (1994). Cross-sectional regressions and the empirics of economic growth. European Economic Review, 38(3-4), 739-747. https://doi.org/10.1016/0014-2921(94)90109-0 Siljak, D. & Nagy, S. G. (2018). The effects of the crisis on the convergence process of the Western Balkan countries towards the European Union. Society and Economy, 40(1), 105-124. Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70, 65-94. https://doi.org/10.2307/1884513 Strielkowski, W. & Höschle, F. (2016). Evidence for economic convergence in the EU: The analysis of past EU enlargements. Technological and Economic Development of Economy, 22(4), 617-630. https://doi.org/10.3846/20294913.2014.890138 Tsanana, E., Katrakilidis, C. & Pantelidis, P. (2013). Balkan area and EU-15: An empirical investigation of income convergence. In Balkan and Eastern European Countries in the Midst of the Global Economic Crisis, Physica-Heidelberg, 23-33. https://doi.org/10.1007/978-3-7908-2873-3_2 Vojinović, B., Acharya, S. & Próchniak, M. (2009). Convergence analysis among the ten European tran- sition economies. Hitotsubashi Journal of Economics, 50(2), 123-141. World Bank. (2018). World Development Indicators Database, https://www.databank.worldbank.org Źuk, P., Polgar, E.K., Savelin, L., Diaz del Hoyo, J.L. & König, P. (2018). Real convergence in central, eastern and south-eastern Europe. ECB Economic Bulletin, Issue 3/2018 https://revfinypolecon.ucatolica.edu.co/article/download/2873/2629 https://revfinypolecon.ucatolica.edu.co/article/download/2873/2974 https://revfinypolecon.ucatolica.edu.co/article/download/2873/4773 info:eu-repo/semantics/article http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 http://purl.org/redcol/resource_type/ART info:eu-repo/semantics/publishedVersion http://purl.org/coar/version/c_970fb48d4fbd8a85 info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 Text Publication |
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UNIVERSIDAD CATÓLICA DE COLOMBIA |
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Revista Finanzas y Política Económica |
| title |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. |
| spellingShingle |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. Nagy, Sándor Gyula Siljak, Dzenita Western balkans European union Economic growth Old member states Beta convergence Convergencia beta Balcanes occidentales Unión europea Crecimiento económico Antiguos estados miembros Convergência beta Bálcãs ocidentais União europeia Crescimento econômico Antigos estados-menbros |
| title_short |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. |
| title_full |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. |
| title_fullStr |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. |
| title_full_unstemmed |
Convergencia económica de los Balcanes Occidentales hacia la UE-15. |
| title_sort |
convergencia económica de los balcanes occidentales hacia la ue-15. |
| title_eng |
Economic convergence of the Western Balkans towards the EU-15. |
| description |
El objetivo de este estudio es analizar la convergencia beta de los países de los Balcanes Occidentales hacia los Estados miembros de la UE-15 en el periodo 2004-2016 y dos subperiodos: 2004-2008 y 2009-2013. La convergencia beta se basa en la teoría del crecimiento neoclásico y pone a prueba la hipótesis de que los países pobres tienden a crecer más rápido que los países ricos, en términos per cápita. Los hallazgos empíricos apoyan la hipótesis de convergencia económica, con tasas de convergencia que van del 1.1% al 2.3%. Los resultados muestran que la reciente crisis financiera afectó negativamente el proceso de convergencia absoluta y condicional, cuando se incluyen variables económicas. La principal limitación de la investigación es la disponibilidad de datos. 
|
| description_eng |
This paper aims to analyze the beta convergence of Western Balkan countries towards the EU-15 Member States in the period 2004-2016, and two sub-periods: 2004-2008 and 2009-2013. Beta convergence is based on the neoclassical growth theory and tests the hypothesis that poor countries tend to grow faster than rich countries, in per capita terms. The empirical findings support the economic convergence hypothesis, with convergence rates ranging from 1.1% to 2.3%. The results show that the recent financial crisis negatively affected the absolute and conditional convergence process, when economic variables are included. The main limitation of the research is the availability of data.
|
| author |
Nagy, Sándor Gyula Siljak, Dzenita |
| author_facet |
Nagy, Sándor Gyula Siljak, Dzenita |
| topic |
Western balkans European union Economic growth Old member states Beta convergence Convergencia beta Balcanes occidentales Unión europea Crecimiento económico Antiguos estados miembros Convergência beta Bálcãs ocidentais União europeia Crescimento econômico Antigos estados-menbros |
| topic_facet |
Western balkans European union Economic growth Old member states Beta convergence Convergencia beta Balcanes occidentales Unión europea Crecimiento económico Antiguos estados miembros Convergência beta Bálcãs ocidentais União europeia Crescimento econômico Antigos estados-menbros |
| topicspa_str_mv |
Convergencia beta Balcanes occidentales Unión europea Crecimiento económico Antiguos estados miembros Convergência beta Bálcãs ocidentais União europeia Crescimento econômico Antigos estados-menbros |
| citationvolume |
11 |
| citationissue |
1 |
| publisher |
Universidad Católica de Colombia |
| ispartofjournal |
Revista Finanzas y Política Económica |
| source |
https://revfinypolecon.ucatolica.edu.co/article/view/2873 |
| language |
eng |
| format |
Article |
| rights |
https://creativecommons.org/licenses/by-nc-sa/4.0 Sándor Gyula Nagy, Dzenita Siljak - 2019 Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 |
| references_eng |
Alcidi, C., Núñez Ferrer, J., Di Salvo, M., Pilati, M. & Musmeci, R. (2018). Income Convergence in the EU: A tale of two speeds. CEPS Commentary, 9 January 2018. Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. Quarterly Journal of Economics, 106(2), 407-443. https://doi.org/10.2307/2937943 Barro, R. J. & Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251. https://doi.org/10.1086/261816 Benczes, I. & Szent-Ivanyi, B. (2015). The European economy in 2014: Fragile recovery and convergen- ce. JCMS: Journal of Common Market Studies, 53, 162-180. https://doi.org/10.1111/jcms.12266 Berend, I. T. (2016). An economic history of twentieth-century Europe: Economic regimes from laissez- faire to globalization. Cambridge University Press. https://doi.org/10.1017/CBO9781316479889 Bićanić, I., Deskar-Škrbić, M. & Zrnc, J. (2016). A Narrative Explanation of Breakpoints and Convergence Patterns in Yugoslavia and its Successor States 1952-2015. The wiiw Balkan Observatory Working Papers 122. Borys, M. M., Polgár, È. K. & Zlate, A. (2008). Real convergence and the determinants of growth in EU candidate and potential candidate countries. A panel data approach. European Central Bank. Botrić, V. (2013). Output Convergence between Western Balkans and EU-15. Research in Economics and Business: Central and Eastern Europe, 5(1), 46-62. Chapsa, X., Tsanana, E. & Katrakilidis, C. (2015). Growth and Convergence in the EU-15: More Evidence from the Cohesion Countries. Procedia Economics and Finance, 33, 55-63. https://doi.org/10.1016/S2212-5671(15)01693-7 Colak, O. (2015). Convergence Revisited: Case of EU and Eastern Europe. Regional Science Inquiry, 7(1), 69-81. El Ouardighi, J. & Somun-Kapetanovic, R. (2007). Do Balkan Countries Have a European Future? An Analysis of Real Economic Convergence, 1989-2005. South East European Journal of Economics and Business, 2(2), 23-30. https://doi.org/10.2478/v10033-007-0002-4 European Commission. (2015). Economic Reform Programmes of Albania, The Former Yugoslav Republic of Macedonia, Montenegro, Serbia, Turkey, Bosnia and Herzegovina and Kosovo: The Commission’s overview and Country assessments. Publications Office of the European Union, Luxembourg. European Commission. (2018). Convergence Report. Institutional Paper 078. Publications Office of the European Union, Luxembourg. Eurostat. (2018). Eurostat Database, https://www.ec.europa.eu/Eurostat Grela, M., Majchrowska, A., Michałek, T., Mućk, J., Staźka-Gawrysiak, A., Tchorek, G. & Wagner, M. (2017). Is Central and Eastern Europe converging towards the EU-15? Narodowy Bank Polski, Education & Publishing Department. International Monetary Fund. (2018). World Economic Outlook Database, https://www.imf.org Jelnikar, E. & Murmayer, U. (2006). Convergence in Europe. Empirical Analysis on Two Groups of Countries of the European Union. Document presented at the International Conference on Human and Economic Resources, 246-260. Joshi, B., Atoyan, R. & Roaf, M. J. (2014). Regional Economic Issues - Special Report 25 Years of Transition: Post-Communist Europe and the IMF. International Monetary Fund. Matkowski, Z. & Próchniak, M. (2004). Economic convergence in the EU accession countries. Composite Indicators of Business Activity for Macroeconomic Analysis (‘The RIED Papers and Proceedings’, vol. 74), SGH, Warsaw, 405-425. Micallef, B. (2017). The process of Economic Convergence in Malta and in the European Union. Central Bank of Malta Policy Note, Central Bank of Malta, Valletta. Retrieved from: https://www.centralbankmalta.org/file.aspx?f=51536 Oblath, G., Palocz, E., Popper, D. & Valentinyi, Á. (2015). Economic convergence and structural change in the new member states of the European Union. Center for Economic and Regional Studies, Hungarian Academy of Science. Pipień, M. & Roszkowska, S. (2018). The heterogeneity of convergence in transition countries. Post- Communist Economies, 31(1), 1-31. https://doi.org/10.1080/14631377.2018.1443245 Podkaminer, L. (2013). Development Patterns of Central and East European Countries (in the course of transition and following EU accession). Vienna Institute for International Economic Studies. Sala-i-Martin, X. (1994). Cross-sectional regressions and the empirics of economic growth. European Economic Review, 38(3-4), 739-747. https://doi.org/10.1016/0014-2921(94)90109-0 Siljak, D. & Nagy, S. G. (2018). The effects of the crisis on the convergence process of the Western Balkan countries towards the European Union. Society and Economy, 40(1), 105-124. Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70, 65-94. https://doi.org/10.2307/1884513 Strielkowski, W. & Höschle, F. (2016). Evidence for economic convergence in the EU: The analysis of past EU enlargements. Technological and Economic Development of Economy, 22(4), 617-630. https://doi.org/10.3846/20294913.2014.890138 Tsanana, E., Katrakilidis, C. & Pantelidis, P. (2013). Balkan area and EU-15: An empirical investigation of income convergence. In Balkan and Eastern European Countries in the Midst of the Global Economic Crisis, Physica-Heidelberg, 23-33. https://doi.org/10.1007/978-3-7908-2873-3_2 Vojinović, B., Acharya, S. & Próchniak, M. (2009). Convergence analysis among the ten European tran- sition economies. Hitotsubashi Journal of Economics, 50(2), 123-141. World Bank. (2018). World Development Indicators Database, https://www.databank.worldbank.org Źuk, P., Polgar, E.K., Savelin, L., Diaz del Hoyo, J.L. & König, P. (2018). Real convergence in central, eastern and south-eastern Europe. ECB Economic Bulletin, Issue 3/2018 |
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