STUDY ON INTEGRATION IN EU AND ECONOMIC GROWTH CONVERGENCE
Zhang Zhan-ren
Abstract
Zhang Zhan-ren
Abstract
European Union is the regional organization with the highest integrated level in the world.The number of Member States has been increasing by,and the regional area have been expanding year by year.The issue of regional disparities has been a priority issue for EU.base on the pane data(1994-2007)from Eurostat,the paper take the approaches of s-convergence and β-convergence to examine the convergence tendency and the economic disparities of member states since 1993.It is suggested that the σ-convergence from 1994 to 2007 and β-convergence tendency from 1998 to 2007 is obvious.Addionally the β-convergence test show that the EU-27 member states converged at annual rate of 1.27%,but there are no apparent convergence between the Non-EU countries in Europe and EU states.Finally,we come to a conclusion that the main causes of growth convergence of EU member states is the effective Integration in ST,trade,investment and institution.
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European Union is the regional organization with the highest integrated level in the world.The number of Member States has been increasing by,and the regional area have been expanding year by year.The issue of regional disparities has been a priority issue for EU.base on the pane data(1994-2007)from Eurostat,the paper take the approaches of s-convergence and β-convergence to examine the convergence tendency and the economic disparities of member states since 1993.It is suggested that the σ-convergence from 1994 to 2007 and β-convergence tendency from 1998 to 2007 is obvious.Addionally the β-convergence test show that the EU-27 member states converged at annual rate of 1.27%,but there are no apparent convergence between the Non-EU countries in Europe and EU states.Finally,we come to a conclusion that the main causes of growth convergence of EU member states is the effective Integration in ST,trade,investment and institution.
Key concepts: Convergence (economics), Member states, European union, International trade, Economic integration, Investment (military), Economics, International economics