Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297895 
Year of Publication: 
2023
Citation: 
[Journal:] World Economy and Policy (WEP) [ISSN:] 2788-0672 [Volume:] 2 [Issue:] 2 [Year:] 2023 [Pages:] 1-23
Publisher: 
Prague University of Economics and Business, Faculty of International Relations, Center for European Studies, Prague
Abstract: 
The following article deals with the basic Solow model of economic growth for the states of the EU-28 and empirically confirms its conclusions. Based on growth accounting, and by analyzing different determinants of the respective steady states of each country, we confirm the importance of capital accumulation. Moreover, the model confirms the existence of both, the absolute and conditional convergence, due to the relative homogeneity of the EU-28. Furthermore, the model developed implies values of the speed of convergence corresponding to the reality observed. Lastly, the model confirms that the Eastern Enlargement represented an acceleration in absolute convergence.
Subjects: 
Solow model
Steady state
European Union
Economic convergence
JEL: 
O40
O41
O4
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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