Real convergence in the European Union

• Autor(a) principal: Veiga, Francisco José
• Data de Publicação: 2000
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/1822/1449
• topic: Real convergence; European Union; Countries and regions

This essay deals with real convergence in the European Union (EU). Real convergence is here defined as convergence of GDP per capita in Purchasing Power Standard. I examine whether there is empirical evidence of real convergence among EU countries or regions and if the current effort towards nominal convergence has slowed real convergence. The main findings are that there has been some real convergence at the country level, mainly before the mid- 1970s, but not much evidence of real convergence is found at the regional level. I also find that the convergence criteria set in the Treaty of Maastricht may have slowed real convergence in the European Union.