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      European integration, productivity growth and real convergence: evidence from the new member states

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      Author
      Kutan, A. M.
      Yigit, T. M.
      Date
      2009
      Source Title
      Economic Systems
      Print ISSN
      0939-3625
      Electronic ISSN
      1878-5433
      Publisher
      Elsevier BV
      Volume
      33
      Issue
      2
      Pages
      127 - 137
      Language
      English
      Type
      Article
      Item Usage Stats
      108
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      120
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      Abstract
      We estimate the determinants of labor productivity growth in 8 new European Union (EU) member states that joined the Union in 2004. Our focus is on the impact of globalization and EU integration efforts on labor productivity growth. Previous studies test the impact of trade using either exports or trade openness. We also test the impact of imports separately on labor productivity growth. Using panel data for 1995-2006 period, we find that globalization has mixed effects. FDI and exports improve productivity, but imports hurt it. Regarding domestic variables, we find that human capital is the most important source of labor productivity growth in the new member states. There is also considerable adjustment of labor productivity towards EU15 levels, indicating significant "catching up" and hence real convergence. Policy implications of the findings are also discussed. © 2009 Elsevier B.V. All rights reserved.
      Keywords
      Convergence
      European Union
      Productivity
      Transition economies
      Permalink
      http://hdl.handle.net/11693/11873
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/j.ecosys.2009.03.002
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