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Is an Economic Integration a Stimulus for Convergence? Analysis of European Union’s Last Enlargement

Yıl 2022, Cilt: 24 Sayı: 2, 631 - 645, 27.06.2022
https://doi.org/10.32709/akusosbil.983865

Öz

This study investigates the issue of the economic integration model's stimulus for convergence between the countries. As an example, the European Union, which is a successful model of economic integration, is taken. With the last enlargement wave of the European Union, the convergence of new members that joined the Union after 2000 was analyzed. Real convergence is estimated by using log regression model and nominal convergence is analyzed with the help of Convergence Reports. The results show that participation in an economic integration and also trade openness contribute to convergence in terms of Gross Domestic Product (GDP) growth among members. Trade openness is a stimulus for convergence in GDP growth in former members and new members, apart from the crisis and recovery years (2008-2013). It can be said that being included in an economic integration has a positive effect on trade openness, GDP growth and GDP per capita. Convergence was seen in 2000-2007 and 2014-2020 periods. In the 2008-2013 period, divergence was observed. The divergence experienced during the crisis years showed that nominal convergence was not sufficient to achieve harmonized growth and to overcome the crisis. In the European Union, a more harmonized growth can be achieved if real convergence is also taken into account.

Kaynakça

  • Akıncı, M. & Yılmaz, Ö. (2012). Per Capita Income Convergence among European Union Countries: Haldane-Hall Approach. Marmara Journal of European Studies, 20(2), 39-60.
  • Alcidi, C. (2019). Economic Integration and Income Convergence in the EU. Intereconomics Review of European Economic Policy, 54(1), 5-11.
  • Anderton, R., Barrel, R. & Veld, J.W. (1992). Macroeconomic Convergence in Europe: Achievements and Prospects. In: Barrel, R. (Ed), Economic Convergence and Monetary Union in Europe (pp. 1-30). London: Sage Publications.
  • Baldwin, R. & Wyplosz, C. (2006). The Economics of European Integration, Second Edition. New York: McGraw-Hill.
  • Barro, Robert J. & Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251.
  • Ben-David, D. (1996). Trade and Convergence among Countries. Journal of International Economics, 40, 279-298.
  • Bisello, M., Dubois, H., Eiffe, F. & Mascherini, M. (2018). Monitoring Convergence in the European Union, Upward Convergence in the EU: Concepts, Measurements and Indicators, Eurofound Research Project.
  • Demirbaş, D. & Kabananiye, A. (2011). Regional Integration, Economic Growth and Convergence in Sup-Saharan Africa: A Case Study of the East Africa Community. Türk International Cooperation and Coordination Agency, 40(2), 145-173.
  • Esen, U. & Kıral, Y. (2013). Avrupa Birliği’ne Üye Ülkeler ile Türkiye’nin Ekonomik Özelliklerinin İstatistiksel Yöntemlerle İncelenmesi. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 22(1), 173-188.
  • European Central Bank (ECB, 2017). Real Convergence in the Euro Area: A long-term Perspective. Occasional Paper Series, 203, Frankfurt (accessed Jun 16, 2021).
  • European Central Bank. Convergence Reports (2016-2018-2020). https://ec.europa.eu/info/business-economy-euro/euro-area/enlargement-euro-area/convergence-reports_en (accessed Jul 13, 2021).
  • European Commission (2010). EUROPE 2020: A strategy for smart, sustainable and inclusive growth, https://ec.europa.eu/eu2020/pdf/COMPLET%20EN%20BARROSO%20%20%20007%20-%20Europe%202020%20-%20EN%20version.pdf (accessed Jul 16, 2021).
  • European Commission (2014a). 10th Anniversary of the 2004 enlargement – strategic benefits, impact and the current enlargement agenda. https://ec.europa.eu/commission/presscorner/detail/en/MEMO_14_325 (accessed Apr 25, 2022).
  • European Commission (2014b). Enlargement Strategy and Main Challenges 2014-15. Document NO: 52014DC0700. https://eur-lex.europa.eu/legal-content/en/ALL/?uri=celex%3A52014DC0700 (accessed Apr 25, 2022).
  • European Commission (n.d.). History of the European Union 2000-09. https://european-union.europa.eu/principles-countries-history/history-eu/2000-09_en (accessed Apr 25, 2022).
  • Eurostat (2021a). Trade openness, 2000-2020. https://ec.europa.eu/eurostat/databrowser/view/ext_lt_intertrd/default/table?lang=en (accessed Apr 02, 2022).
  • Eurostat (2021b). GDP per Capita: chain linked volumes, https://ec.europa.eu/eurostat/databrowser/view/nama_10_pc/default/table?lang=en (accessed Apr 02, 2022).
  • Głodowska, A. & Pera, B. (2019). On the Relationship between Economic Integration, Business Environment and Real Convergence: The Experience of the CEE Countries. Economies, 7(54), 1-19.
  • Güçyetmez, F. & Şahin, S. (2020). The European Economy Effect of Interdependence in the Pandemic Process. In Yüksel A. E. (Ed), İktisadi ve İdari Bilimler, Teori, Güncel Araştırmalar ve Yeni Eğilimler içinde (pp. 604-623). Karadağ: IVPE Yay.
  • Healey, N. (1995). The Economics of the new Europe: from Community to Union. London: Routledge.
  • Heichel, S., Pape, J. & Sommerer, T. (2005). Is there convergence in convergence research? An overview of empirical studies on policy convergence. Journal of European Public Policy, 12(5), 817-840.
  • Iancu, A. (2009). Real Convergence and Integration, Working Papers, No. 090102, Romanian Academy, National Institute for Economic Research, Bucharest.
  • Iancu, A. (2017). The Transition to the Euro and Economic Convergence of Romania, Working Papers, No. 170525, Romanian Academy, National Institute for Economic Research, Bucharest.
  • Jena, D. (2018). Economic Integration and Income Convergence in the EU and the ASEAN. Journal of Economics Library, 5(1), 1-11.
  • Marelli, E. & Signorelli, M. (2010). Employment, Productivity and Models of Growth in the EU. International Journal of Manpower, 31, 732-754.
  • Mikulić, D., Lovrinčević, Ž. & Nagyszombaty, A. G. (2013). Regional Convergence in the European Union, new Member States and Croatia. South East European Journal of Economics and Business, 8(1), 9-21.
  • Nagy, S. G. & Šiljak, D. (2022). Is the European Union still a convergence machine? Acta Oeconomica, 72(1), 47-63.
  • Okko, P. (2003). Regional growth and convergence via integration – the case of the large EU. The 43rd European Congress of the Regional Science Association in Jyväskylä, Finland.
  • Robson, P. (1998). The Economics of International Integration, 4th Ed. New York: Routledge.
  • Solow, R. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70(1), 65-94.
  • Strielkowski, W., & Höschle, F. (2016). Evidence for economic convergence in the EU: the analysis of past EU enlargements. Technological and Economic Development of Economy, 22(4), 617-630.
  • The Single European Act (1987). Luxembourg: Office for Official Publications of the European Communities, Vol. I + II: ISBN 9277192941.
  • The Treaty of Lisbon (2007). Treaty of Lisbon amending the Treaty on European Union and the Treaty establishing the European Community, ISSN 1725-2423.
  • The Treaty of Maastricht (1992). Luxembourg: Office for Official Publications of the European Communities, ISBN 92-824-0959-7.
  • The Treaty of Rome (1957). Treaty establishing the European Economic Community.
  • Treaty of Amsterdam (1997). Luxembourg: Office for Official Publications of the European Communities, ISBN 92-828-1652-4.

Ekonomik Entegrasyon Yakınsama için Bir Uyarıcı Etken Midir? Avrupa Birliği’nin Son Genişleme Örneği

Yıl 2022, Cilt: 24 Sayı: 2, 631 - 645, 27.06.2022
https://doi.org/10.32709/akusosbil.983865

Öz

Bu çalışma ekonomik entegrasyon modelinin ülkeler arasındaki yakınsama için uyarıcılık konusunu araştırmaktadır. Örnek olarak başarılı bir ekonomik entegrasyon modeli olan Avrupa Birliği ele alınmıştır. Avrupa Birliği’nin son genişleme dalgasıyla birlikte 2000 yılından sonra Birliğe katılan 13 ülkenin yakınsamaları analiz edilmiştir. Log regresyon modelleri kullanılarak reel entegrasyon analiz edilmiş, yakınsama raporları incelenerek de nominal yakınsama araştırılmıştır. Sonuçlara göre, ekonomik entegrasyona katılım ve ticari açıklığın üyeler arasında GSYH büyümesi açısından yakınsamaya katkıda bulunduğunu göstermektedir. Ticari dışa açıklığın, kriz ve toparlanma yılları (2008-2013) dışında eski ve yeni üyelerde de GSYH büyümesinde yakınsama için bir uyarıcı olduğunu özetlemektedir. Birliğe son üye olan ülkelerde 2008 kriz yılı ve sonrasındaki yıllarda (2014 yılına kadar) ekonomik entegrasyona dahil olmanın ticari dışa açıklık, GSYH büyümesi ve kişi başına GSYH üzerinde olumlu etkisi olduğu söylenebilir. 2008-2013 döneminde ise uzaksama gözlenmiştir. Kriz yıllarında yaşanan uzaksama, harmonize büyümeyi sağlamak ve krizlerin üstesinden gelmek için nominal yakınsamanın yeterli olmadığını göstermiştir. Avrupa Birliği’nde, reel yakınsama da dikkate alınırsa, daha harmonize bir büyüme sağlanabilir.

Kaynakça

  • Akıncı, M. & Yılmaz, Ö. (2012). Per Capita Income Convergence among European Union Countries: Haldane-Hall Approach. Marmara Journal of European Studies, 20(2), 39-60.
  • Alcidi, C. (2019). Economic Integration and Income Convergence in the EU. Intereconomics Review of European Economic Policy, 54(1), 5-11.
  • Anderton, R., Barrel, R. & Veld, J.W. (1992). Macroeconomic Convergence in Europe: Achievements and Prospects. In: Barrel, R. (Ed), Economic Convergence and Monetary Union in Europe (pp. 1-30). London: Sage Publications.
  • Baldwin, R. & Wyplosz, C. (2006). The Economics of European Integration, Second Edition. New York: McGraw-Hill.
  • Barro, Robert J. & Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251.
  • Ben-David, D. (1996). Trade and Convergence among Countries. Journal of International Economics, 40, 279-298.
  • Bisello, M., Dubois, H., Eiffe, F. & Mascherini, M. (2018). Monitoring Convergence in the European Union, Upward Convergence in the EU: Concepts, Measurements and Indicators, Eurofound Research Project.
  • Demirbaş, D. & Kabananiye, A. (2011). Regional Integration, Economic Growth and Convergence in Sup-Saharan Africa: A Case Study of the East Africa Community. Türk International Cooperation and Coordination Agency, 40(2), 145-173.
  • Esen, U. & Kıral, Y. (2013). Avrupa Birliği’ne Üye Ülkeler ile Türkiye’nin Ekonomik Özelliklerinin İstatistiksel Yöntemlerle İncelenmesi. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 22(1), 173-188.
  • European Central Bank (ECB, 2017). Real Convergence in the Euro Area: A long-term Perspective. Occasional Paper Series, 203, Frankfurt (accessed Jun 16, 2021).
  • European Central Bank. Convergence Reports (2016-2018-2020). https://ec.europa.eu/info/business-economy-euro/euro-area/enlargement-euro-area/convergence-reports_en (accessed Jul 13, 2021).
  • European Commission (2010). EUROPE 2020: A strategy for smart, sustainable and inclusive growth, https://ec.europa.eu/eu2020/pdf/COMPLET%20EN%20BARROSO%20%20%20007%20-%20Europe%202020%20-%20EN%20version.pdf (accessed Jul 16, 2021).
  • European Commission (2014a). 10th Anniversary of the 2004 enlargement – strategic benefits, impact and the current enlargement agenda. https://ec.europa.eu/commission/presscorner/detail/en/MEMO_14_325 (accessed Apr 25, 2022).
  • European Commission (2014b). Enlargement Strategy and Main Challenges 2014-15. Document NO: 52014DC0700. https://eur-lex.europa.eu/legal-content/en/ALL/?uri=celex%3A52014DC0700 (accessed Apr 25, 2022).
  • European Commission (n.d.). History of the European Union 2000-09. https://european-union.europa.eu/principles-countries-history/history-eu/2000-09_en (accessed Apr 25, 2022).
  • Eurostat (2021a). Trade openness, 2000-2020. https://ec.europa.eu/eurostat/databrowser/view/ext_lt_intertrd/default/table?lang=en (accessed Apr 02, 2022).
  • Eurostat (2021b). GDP per Capita: chain linked volumes, https://ec.europa.eu/eurostat/databrowser/view/nama_10_pc/default/table?lang=en (accessed Apr 02, 2022).
  • Głodowska, A. & Pera, B. (2019). On the Relationship between Economic Integration, Business Environment and Real Convergence: The Experience of the CEE Countries. Economies, 7(54), 1-19.
  • Güçyetmez, F. & Şahin, S. (2020). The European Economy Effect of Interdependence in the Pandemic Process. In Yüksel A. E. (Ed), İktisadi ve İdari Bilimler, Teori, Güncel Araştırmalar ve Yeni Eğilimler içinde (pp. 604-623). Karadağ: IVPE Yay.
  • Healey, N. (1995). The Economics of the new Europe: from Community to Union. London: Routledge.
  • Heichel, S., Pape, J. & Sommerer, T. (2005). Is there convergence in convergence research? An overview of empirical studies on policy convergence. Journal of European Public Policy, 12(5), 817-840.
  • Iancu, A. (2009). Real Convergence and Integration, Working Papers, No. 090102, Romanian Academy, National Institute for Economic Research, Bucharest.
  • Iancu, A. (2017). The Transition to the Euro and Economic Convergence of Romania, Working Papers, No. 170525, Romanian Academy, National Institute for Economic Research, Bucharest.
  • Jena, D. (2018). Economic Integration and Income Convergence in the EU and the ASEAN. Journal of Economics Library, 5(1), 1-11.
  • Marelli, E. & Signorelli, M. (2010). Employment, Productivity and Models of Growth in the EU. International Journal of Manpower, 31, 732-754.
  • Mikulić, D., Lovrinčević, Ž. & Nagyszombaty, A. G. (2013). Regional Convergence in the European Union, new Member States and Croatia. South East European Journal of Economics and Business, 8(1), 9-21.
  • Nagy, S. G. & Šiljak, D. (2022). Is the European Union still a convergence machine? Acta Oeconomica, 72(1), 47-63.
  • Okko, P. (2003). Regional growth and convergence via integration – the case of the large EU. The 43rd European Congress of the Regional Science Association in Jyväskylä, Finland.
  • Robson, P. (1998). The Economics of International Integration, 4th Ed. New York: Routledge.
  • Solow, R. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70(1), 65-94.
  • Strielkowski, W., & Höschle, F. (2016). Evidence for economic convergence in the EU: the analysis of past EU enlargements. Technological and Economic Development of Economy, 22(4), 617-630.
  • The Single European Act (1987). Luxembourg: Office for Official Publications of the European Communities, Vol. I + II: ISBN 9277192941.
  • The Treaty of Lisbon (2007). Treaty of Lisbon amending the Treaty on European Union and the Treaty establishing the European Community, ISSN 1725-2423.
  • The Treaty of Maastricht (1992). Luxembourg: Office for Official Publications of the European Communities, ISBN 92-824-0959-7.
  • The Treaty of Rome (1957). Treaty establishing the European Economic Community.
  • Treaty of Amsterdam (1997). Luxembourg: Office for Official Publications of the European Communities, ISBN 92-828-1652-4.
Toplam 36 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm İktisadi ve İdari Bilimler
Yazarlar

Özlem Toplu Yılmaz 0000-0001-5335-8370

Yayımlanma Tarihi 27 Haziran 2022
Gönderilme Tarihi 17 Ağustos 2021
Yayımlandığı Sayı Yıl 2022 Cilt: 24 Sayı: 2

Kaynak Göster

APA Toplu Yılmaz, Ö. (2022). Is an Economic Integration a Stimulus for Convergence? Analysis of European Union’s Last Enlargement. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi, 24(2), 631-645. https://doi.org/10.32709/akusosbil.983865