scholarly journals A Long-Term Real Appreciation as the Phenomenon of Economic Convergence

2010 ◽  
Vol 58 (1) ◽  
pp. 70-91 ◽  
Author(s):  
Luboš Komárek ◽  
Kamila Koprnická ◽  
Petr Král
Keyword(s):  
Economic Convergence ◽  
Real Appreciation

scholarly journals Macroeconomic stability as the condition for Bulgaria to join the euro area

Equilibrium ◽  
2019 ◽  
Vol 14 (2) ◽  
pp. 295-315
Author(s):  
Anna Moździerz
Keyword(s):  
Euro Area ◽  
Budget Deficit ◽  
Value Added ◽  
Economic Convergence ◽  
Convergence Criteria ◽  
Macroeconomic Imbalances ◽  
Macroeconomic Indicators ◽  
The Subject ◽  
Macroeconomic Stability

Research background: The subject of research is the macroeconomic situation of Bulgaria in the context of the country's preparations for joining the euro area. In 2018, the Bulgarian government approved a plan of preparations covering the period until the end of June 2019, which assumes that the country will join the ERM II mechanism in July 2019, and the euro area on 1 January 2022. Bulgaria meets four nominal convergence criteria regarding inflation, long-term interest rate, budget deficit and public debt. The national currency is pegged to the euro under the currency board arrangement. Despite this, the implementation of this optimistic scenario may be difficult because since the 2007 crisis, the European institutions pay more attention to macroeconomic stability and the sustainability of convergence. Purpose of the article: The aim of the article is to identify the factors destabilising macroeconomic equilibrium in Bulgaria, which are a potential obstacle to the adoption of the euro by Bulgaria on schedule. Methods: The research was based on the changes in selected macroeconomic indicators, as well as on the method used by the European Commission to detect macroeconomic imbalances. The observation and analysis covered the 2007–2018 period.  Findings & Value added: The research results indicate that the low level of socio-economic convergence of Bulgaria and macroeconomic imbalances may delay its membership in the monetary union. Therefore, while respecting the country's aspirations to join the euro area, one cannot ignore the risk of another destabilisation of the euro area. 

scholarly journals Socio-Economic Convergence as a Necessary Precondition and Determinant of Societal Growth

2016 ◽  
Vol 9 (36) ◽  
pp. 394-407
Author(s):  
Martin Hudec
Keyword(s):  
Growth Rate ◽  
Capital Stock ◽  
Transition Period ◽  
Developed Countries ◽  
Economic Convergence ◽  
Product Size ◽  
Developed Economies ◽  
Economic Level ◽  
Opposite Action

Abstract The issue of socio-economic convergence is nowadays more than ever an extremely dominant topic, especially in the case of less developed countries and countries suffering stagnation, mainly due to the integration processes occurring worldwide and the determinant to achieve long-term growth in an effort to advance towards the socioeconomic sustainable level of developed economies. A key assumption towards convergence is that economies with initially lower socio-economic levels will at some point reach (in an idea case) or get very close the level of developed economies, gradually reducing the gap between the capital stock and the level of product size between countries, while the lower economic level the country has, the higher the growth rate it will go through the transition period. This suggests that the economies with lower levels of performance will grow on average at a higher rate than economies that are more efficient. It is therefore expected that the growth performance of a country will with its improvement also at some point slow down and quite realistically there can also occur a situation where the levels of development and growth of individual states economies will rather show delay. This is basically an opposite action to the concept of convergence, which is known as the divergence. The aim of our research paper is to analyze closely the concept of convergence, while pointing it is specifically characteristics and overall focusing on the significance of the issue of convergence.

scholarly journals Between Competitiveness and Sustainability? Achievements and Dilemmas of Regional Policy in the Context of Economic Development of Rural Regions: the Case of Poland

2019 ◽  
Vol 8 (2) ◽  
pp. 299
Author(s):  
Michał Dudek ◽  
Agnieszka Wrzochalska
Keyword(s):  
Economic Development ◽  
Rural Areas ◽  
Regional Policy ◽  
Economic Trend ◽  
Economic Convergence ◽  
Rural Regions ◽  
Spatial Differences ◽  
Peripheral Areas ◽  
Functional Areas

A clear long-term economic trend is the concentration of capital and settlement. These processes increasingly include development centres located in cities and their functional areas. In turn, many peripheral areas, including rural areas, are subject to socio-economic marginalization. As a result, the inter-regional and intra-regional disparities in wealth and quality of life become more visible and deepen. Increasing spatial differences are confront with numerous scientific explanations and remedies, which usually are translated into different strategies and practices of regional policy. Regional policy actions assume a different scope, objectives, instruments of intervention and could be categorized as a policy based on the paradigm of competitiveness (polarisation) or sustainability. The aim of the paper was to determine the level of economic disparities between urban and rural regions in Poland in the context of assessment of implemented regional policy. In the paper selected approaches to supporting rural development in regional policy, namely the perspectives based on the paradigm of competitiveness and sustainability were characterised. The analyses carried out documented the differences in the intensity of support of EU Cohesion Policy tools per capita in favour of urban regions. Even though the value of financial support from EU funds was positively correlated with the level of regional development, there was no statistically significant impact of this intervention on the processes of economic convergence and divergence. The conclusions presented in the study were based on the analysis of the Eurostat data gathered for 72 Polish sub-regions in 2007-2015. For the purpose of the study the statistical methods (i.e. descriptive statistics, measures of economic convergence), as well as the content analysis of strategic documents were used. Key words: rural regions, competitiveness, sustainability, economic development, regional policy

scholarly journals Looking for the evidence of socio-economic convergence within the European Union

2011 ◽  
Vol 57 (No. 8) ◽  
pp. 384-393 ◽  
Author(s):  
A. Qineti ◽  
E. Matejková ◽  
M. Pietriková ◽  
R. Serenčeš ◽  
M. Tóth ◽  
...  
Keyword(s):  
Economic Convergence ◽  
The European Union ◽  
Member States ◽  
Eu Countries ◽  
Eu Member States ◽  
Eu Integration ◽  
Sigma Convergence ◽  
Main Growth ◽  
The Eu

The purpose of this paper is to analyze the evidence and impact of the EU integration between 1999 and 2009 on the EU regional economic growth and the socio-economic convergence. A regional convergence analysis is performed in order to examine if the EU overall aim of convergence is reached. The main growth- and convergence theories are used as the theoretical framework and form the study's hypothesis. The results show that an absolute β-convergence exists between the EU member states as well as regions. However, the σ-convergence is not confirmed, meaning that that the disparities between the regions are rather increasing than decreasing. Perhaps a possible reason why the σ-convergence does not occur at the EU level is that it is easier for smaller regions which are more similar to each other to converge than for larger regions which tend to be more dissimilar to each other. This reasoning is in line with the convergence theories which state that smaller regions within a country are more likely to converge towards each other in the absolute sense than countries. On the other hand, the EU countries and regions tend to convergence in the tasks like unemployment rate, showing that they are not successful in resolving this difficult task. One of the main reasons of the high unemployment in all EU member states is their structural problem in the respective economies, consequently reflected in the long-term unemployment. The EU countries tend to convergence in terms of inequality as well, showing that they are egalitarian in character.

scholarly journals INNOVATION FOR GROWTH: EVIDENCE FROM CEE EUROZONE CANDIDATES

2020 ◽  
Vol 5 (Special) ◽  
pp. 124-134
Author(s):  
Otilia Georgiana Floroiu
Keyword(s):  
Economic Growth ◽  
Swot Analysis ◽  
Value Added ◽  
Clean Energy ◽  
Economic Convergence ◽  
Digital Innovation ◽  
Skilled Personnel ◽  
Development Levels ◽  
Performance Pattern

This paper analyzes the European innovation framework focusing on four Eurozone candidates: Romania, Poland, Hungary, and Czech Republic. In the last decades, almost two-thirds of Europe’s economic growth has been driven by innovation. This idea is supported by impressive scientific findings concerning the correlation between innovation and economic growth. We believe that better innovation performance stimulates economic convergence and in the long term, facilitates the candidates’ transition towards Euro currency adoption. The countries in the study demonstrate a low innovative performance pattern, as our SWOT analysis will show. First, the gross domestic expenditure on research and development levels are far below the Union average. Secondly, there is a lack of cooperation between the academic and business sector, leading to a decreasing number of skilled personnel in the innovation industries. Lastly, these countries are suffering from an incoherent strategy aimed at reducing the productivity gap between domestic and foreign-owned firms. In order for these CEE Eurozone candidates to improve their European Innovation Score and their competitiveness, we recommend increasing investments in R&D, infrastructure, education, healthcare, clean energy and shifting towards higher value-added activities. We are also suggesting supporting digital innovation hubs, the creation of new companies, and facilitating access to finance for small and medium-sized businesses.

Long-term Growth Perspectives and Economic Convergence of CEE and SEE Countries

2008 ◽  
Vol 15 (2) ◽  
pp. 225-239 ◽  
Author(s):  
Gianluca Salsecci ◽  
Antonio Pesce
Keyword(s):  
Economic Convergence

Therapy and prevention for mental health: What if mental diseases are mostly not brain disorders?

2019 ◽  
Vol 42 ◽  
Author(s):  
John P. A. Ioannidis
Keyword(s):  
Mental Health ◽  
Mental Disease ◽  
Brain Disorders ◽  
Social Stressors ◽  
Labor Education ◽  
Mental Diseases ◽  
Long Term Follow Up ◽  
Political Decisions

AbstractNeurobiology-based interventions for mental diseases and searches for useful biomarkers of treatment response have largely failed. Clinical trials should assess interventions related to environmental and social stressors, with long-term follow-up; social rather than biological endpoints; personalized outcomes; and suitable cluster, adaptive, and n-of-1 designs. Labor, education, financial, and other social/political decisions should be evaluated for their impacts on mental disease.

Conceptual short-term memory (CSTM) supports core claims of Christiansen and Chater

2016 ◽  
Vol 39 ◽  
Author(s):  
Mary C. Potter
Keyword(s):  
Working Memory ◽  
Rapid Serial Visual Presentation ◽  
Language Comprehension ◽  
Short Term Memory ◽  
Visual Presentation ◽  
Long Term Memory ◽  
Short Term ◽  
Term Memory ◽  
Use Of Knowledge

AbstractRapid serial visual presentation (RSVP) of words or pictured scenes provides evidence for a large-capacity conceptual short-term memory (CSTM) that momentarily provides rich associated material from long-term memory, permitting rapid chunking (Potter 1993; 2009; 2012). In perception of scenes as well as language comprehension, we make use of knowledge that briefly exceeds the supposed limits of working memory.

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