Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/239520 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 14 [Issue:] 3 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-22
Publisher: 
MDPI, Basel
Abstract: 
The European integration process started with the aim of reducing the differences in income and/or living standards between the participating countries over time. To achieve this, a certain alignment of institutions and structures was seen as a necessary precondition. While the goal of this income and institutional convergence was successfully achieved over a long period of time, this convergence development has weakened or even turned into divergence in the last one to two decades. This paper provides an overview of the empirical evidence for these convergence and divergence developments and develops policy implications (the challenges and possible ways out).
Subjects: 
convergence dynamics
divergence
economic growth and economic development
European integration process
European Union
institutional quality
JEL: 
F55
O10
O11
O43
O52
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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