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1

LINKS BETWEEN REAL AND NOMINAL CONVERGENCE IN THE NEW EU MEMBER STATES: IMPLICATIONS FOR THE ADOPTION OF EURO

100%
Vintrova R., Zdarek V.
Ekonomický časopis (Journal of Economics)
|
2007
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vol. 55
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issue 5
439-458
EN
This paper analyses the relationships between real and nominal convergence in the new post communist member states and on this basis evaluates the potential benefits and risks connected with joining the euro. The analysis observes both the common problems of catching-up economies and the dissimilarities and peculiarities influenced by the differences in the macroeconomic parameters in individual countries. The regression analysis shows interdependence between the comparative price and wage level and the income per capita level. The benefits connected with elimination of the exchange rate risks and reduction of transaction costs are compared with the disadvantages associated with the loss of an independent monetary policy and an adjusting exchange rate mechanism. Attention is paid to a potential impact on real convergence of the observed countries.
2

KOMPARECE PŘIPRAVENOSTI ČESKÉ REPUBLIKY A SLOVENSKÉ REPUBLIKY NA ZAVEDENÍ EURA

88%
Lebiedzik M., Tuleja P., Pauhofová I.
Ekonomický časopis (Journal of Economics)
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2008
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vol. 56
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issue 1
22-38
EN
The Czech Republic and Slovakia before their entrance to the European Union committed to fulfil all conditions necessary for introducing the common European currency. While in a case of the Czech Republic appears as possible term of entrance the country to the Euro-zone year 2012 or even later, in a case of Slovakia is in last months more often discussed about 1st January 2009, whereas it will depend on the level of fulfilment of Maastricht criteria of nominal convergence. Although successful fulfilment of these criteria appears as bottom line for entrancing new country to the Euro-zone, according to many experts, is more important to fulfil real economic convergence criteria. This contribution deals with a process of a real convergence of these two economics.
3

MEASUREMENT OF REAL CONVERGENCE IN THE EU-28 BY USING THE ENTROPY METHOD

88%
Durkaliċ D., Fedajev A., Furtula S., Stanišiċ N.
Ekonomický časopis (Journal of Economics)
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2019
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vol. 67
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issue 7
698 – 724
EN
A convergence process, defined as the process of the economic indicators harmonization within the European Union, can be observed from the nominal and the real point of view. A real convergence is a quite interesting issue since it has a long-term influence on the growth and development of this regional integration as a whole and its competitive position in the global market. Therefore, the topic of this paper refers to the measurement of the real convergence in the EU during the period from 2004 to 2016, using the entropy method. The entropy method is a fairly suitable method for investigation of the real convergence since it measures the divergence across the sub-systems of a certain system (in this case, the EU member countries) by the level of entropy. In this paper, the real convergence is measured by the PPP-based GDP per capita, the unemployment rate, the GDP per worker and the gross capital formation (as % of the GDP). The obtained results pointed out that the most pronounced differences among EU economies exist in labour productivity, represented by GDP per worker, while the differences in domestic investment, expressed by gross capital formation, were the lowest.
4

KONVERGENČNÍ PROCES VE STŘEDOEVROPSKÝCH NOVÝCH ČLENSKÝCH STÁTECH EVROPSKÉ UNIE A JEHO ZMĚNY V OBDOBÍ RECESE

63%
Vintrová R.
Ekonomický časopis (Journal of Economics)
|
2013
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vol. 61
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issue 2
111 – 133
EN
The catching up with the economic level was very fast in EU-5 in the current decade, however the real convergence slowed down in the recession period (except of Poland), especially in Slovenia and Czech Republic. GDP per capita is the highest in Slovenia and in the Czech Republic, while GDP per employed person in Slovenia and Slovakia. The position of EU-5 (except of Poland) measured by GNI or NNI is worse than that measured by GDP. The RGDI rates of growth show similar results as the GDP ones in 2001 – 2007 except of Slovakia, where they were by 0.5 p. p. lower. The relation of CPL to EU-27 approximated to the relation in GDP per capita. The wage level is still much lower. The aggregate ULC in relation to EU-27 reach from one half in Poland, Slovakia and Hungary to more than 60% in the Czech Republic and 90% in Slovenia.
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