Real and Nominal Convergence of the Cee Countries

Bibliographic Data

ID6109202
AuthorsRůžena Vintrová (Weatherford College, corresponding author)
Year2007
Volume55
Issue2
Pages206-225
Publication date2007-04-01
Open AccessYes
TypeARTICLE
VenuePolitická ekonomie (JOURNAL)
Journal identifiersISSN: 0032-3233 • E-ISSN: 2336-8225
PublisherPrague University of Economics and Business (PUBLISHER • CZ)
DOI10.18267/j.polek.597
OpenAlexW173769576
LanguageEN
Citations received3
References cited5

This paper deals with the narrowing the income gap between the Central and East European New Member States (NMS-5) and the EU-25 and with the trade-off between the real and nominal convergence. The methodology is based on international standards enabling comparisons of macroeconomic indicators, especially of GDP per capita in purchasing power parity and alternative indicators of real gross domestic income, which comprises gains or losses from the terms of trade changes. In the chapter 1 the changes in catching-up and in the position of the NMS-5 economy within the framework of EU-25 are analysed. Chapter 2 deals with the trade-off between the real and nominal convergence. The regression analysis of the comparative price and wage level in relation to the economic level reveals deviations from the theoretical values, especially in the Czech Republic. The unit labour cost's level comparisons examine the cost/price competitiveness. The perspective of real convergence is analysed in the conclusion

Convergence (economics) · Czech · Econometrics · Economics · Exchange rate · Gross domestic product · International economics · Macroeconomics · Per capita · Position (finance) · Price level · Purchasing power · Purchasing power parity · Real gross domestic product · Terms of trade · Economic Growth and Productivity · Regional Development and Policy

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Open DOIOpen Access