PRODUCTIVITY CONVERGENCE IN THE EUROPEAN UNION – THE ROLE OF LABOUR MARKET INSTITUTIONS

• Authors: Chovancová Petra
• Languages of publication: EN

Abstracts

EN

Given the relatively low level of productivity and the persisting productivity gap (between the European Union and the United States, and among the member states), measures to enhance total factor productivity growth and productivity convergence in the member states of the European Union are inevitable. The aim of this paper is to determine the factors influencing productivity convergence in member states of the European Union, with emphasis on the role of selected labour market institutions. By means of fixed effects panel regression (LSDV estimator), a catch-up specification of production function and its extensions are estimated. The empirical analysis is conducted on a dataset covering observations from 1995 to 2017 for all member states of the European Union. The empirical results have approved the role of knowledge in determining total factor productivity convergence and the suggestion about the decisive role of labour market institutions.

Keywords

EN

FACTOR PRODUCTIVITY; PRODUCTIVITY CONVERGENCE; EUROPEAN UNION; LABOUR MARKET

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2021
• Volume: 69
• Issue: 9
• Pages: 928 – 953

Contributors

author

Chovancová Petra

• Masaryk University, Department of Economics, Lipová 41a, 602 00 Brno, Czech Republic

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2021.09.03