Structural Convergence of European Economies – Literature Review
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Academic Publishing UNWE (AP-UNWE)
Abstract
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Structural convergence in the EU is regarded as an important prerequisite for the efficient functioning of the Economic and monetary union. This article presents a brief review of the existing theoretical and empirical literature regarding the convergence of output structures among countries. The analysis of the theoretical literature identifies a wide variety of factors driving the process. In line with that, conflicting evidence about the EU’s past experience with convergence can be found in empirical studies.
Keywords
Economic integration, Structural change, Monetary unions, Structural convergence, F02 - International Economic Order and Integration, F45 - Macroeconomic Issues of Monetary Unions, L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change • Industrial Price Indices, O47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence