Fiscal convergence in the European Union
Date
2008
Authors
Kocenda, E.
Kutan, A. M.
Yigit, T. M.
Editor(s)
Advisor
Supervisor
Co-Advisor
Co-Supervisor
Instructor
Source Title
North American Journal of Economics and Finance
Print ISSN
1062-9408
Electronic ISSN
1879-0860
Publisher
Elsevier BV
Volume
19
Issue
3
Pages
319 - 330
Language
English
Type
Journal Title
Journal ISSN
Volume Title
Series
Abstract
We empirically examine the fiscal convergence of the recent ten European Union (EU) members using the Maastricht fiscal convergence criteria. We test for absolute beta and sigma convergence of the new members in comparison to the Maastricht benchmarks, as well as the EU15 figures, using methodologies that allow for structural breaks. The results show poor fiscal performance in the European Union in general, suggesting that monetary unions do not necessarily encourage fiscal convergence for its members. © 2008 Elsevier Inc. All rights reserved.