European integration and income convergence. Lessons for Central and Eastern European countries

Part of the World Bank's 'Europe and Central Asia Poverty Reduction and Economic Management' series.

Book abstract:

The Central and Eastern European candidate countries currently have income levels and standards of living below those of existing Member States. This short technical paper addresses the question of how and when these countries can converge towards European Union levels in these areas. It does this by assessing the convergence experience of the four less developed EU Members of Spain, Ireland, Portugal and Greece after joining the EU. It also explores what lessons can be learnt from their experiences.

The paper begins by summarising what theory tells us about convergence issues, before looking at measurement issues and the most common methods used in empirical research. Chapter 3 then examines and explains the nature and trends of real convergence of the four countries listed above. The analysis places special emphasis on capital stocks. Finally chapter 4 examines how the experiences of these four countries can be used to set up a strategy for the Central and Eastern European candidate countries. The paper includes tables and graphs to illustrate the economic arguments presented.

The paper may be of interest to students of European Studies. The authors are economists from the Universidad Complutense de Madrid and the World Bank

http://www.eurospan.co.uk http://www.eurospan.co.uk

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