Sigma Versus Beta-convergence in EU28: do they lead to different results?

摘要

The process of economic convergence has been undoubtedly marked by the financial crisis. The paper focuses on analysis and evaluation of the impact of financial crisis on the real convergence among EU member states. The beta-convergence approach is verified by econometric modelling techniques, namely with the use of cross-sectional linear regression analysis. The next focus is given on the examining of the sigma-convergence which is tested by standard deviation of real GDP per capita. The aim is to verify the hypothesis that the approach of beta-convergence and the concept of sigma-convergence lead to a different results for the EU member states in the period 2001-2012.