Publication at Faculty of Social Sciences, Faculty of Mathematics and Physics, Centre for Economic Research and Graduate Education |
2005
Abstract
In our analysis, we examine the convergence of all recent ten European Union (EU) members to EU standards. Novel features of the paper include more complete measures of convergence, in particular fiscal convergence; a broader examination of inflation convergence with respect to the Maastricht benchmark as well as the European Central Bank's inflation objective; and more appropriate tests of convergence that allow for structural breaks.
The results indicate slow but steady per-capita real income convergence towards EU standards