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Convergence or Divergence: The Analysis of Economic Growth in the CIS Countries
Hakimov, Durbek ; Cahlík, Tomáš (advisor) ; Holub, Tomáš (referee)
This dissertation examines from a comparative perspective the growth experience for a sample of twelve countries of the former Soviet Union over the period from 1991 to 2008. Two meth- ods of econometric analysis are applied: cross-section regressions and dynamic panel data esti- mation techniques. The main focus of the study has been to empirically establish whether coun- tries in the region are converging or diverging in terms of their income per capita and to find important sources of cross-country differences which determine the shape of this process. I did not find statistically significant support for conditional convergence in any cross-section period. It is partly supported by the increased dispersion of per capita income levels during the sample period. Meanwhile, panel data fixed-effects and GMM methods provide strong support for con- ditional convergence hypothesis. The first-differenced GMM estimator indicates a rate of con- vergence of around 2 per cent a year, which is surprisingly similar to the standard cross-section findings in empirical literature. However, it could be the result of the cyclical behaviour of out- put during transition. In general, results indicate that structural transformation is not yet over in most of the countries. Therefore progress in market-oriented reforms and...
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Dopad finančních prostředků EU na konvergenci příjmů: případ zemí střední Evropy
Kim, Joo Hyun ; Slaný, Martin (advisor) ; Chytilová, Helena (referee)
The aim of the paper is to examine the convergence hypothesis as well as whether EU funds positively influence income convergence. Four countries of Central European countries are chosen: Czech Republic, Hungary, Poland, and Slovakia, to be compared to EU15 over the period of 1993 to 2015. The original hypothesis states that Poland should show the fastest speed of income convergence; Czech Republic should exhibit the lowest speed according to the convergence hypothesis. Moreover, it is assumed that EU funds have positive influences on income convergence. In order to test the hypothesis, beta convergence and sigma convergence are utilized by running regression models in STATA. The convergence hypothesis is correctly confirmed with the data from the regression models. Furthermore, it is proved that the EU funds brought positive impacts on income convergence based on changes in the income gap in the period of 1993 to 2015. So, EU funds have contributed to the process of income convergence between the four countries towards EU15.
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Real Economic Convergence of the Czech Republic and Germany
Kuc, Matěj ; Dědek, Oldřich (advisor) ; Luňáčková, Petra (referee)
Citizens of the Czech Republic do not view Germany solely as their biggest trade partner, but also as a benchmark of advanced economy in Western Europe. This is the status that the Czech Republic would like to achieve. Comparison with Germany is more relevant than with the average of the European Union. In this paper, I search for answers to frequently asked questions such as whether the Czech Republic is catching up to Germany's level or how long it would take to do so. In the theoretical part of the thesis, I explain the convergence theory using the neoclassical growth model. I focus on the determinants of economic growth as well as the steady state position. Next, I discuss the arguments brought forward by the critics of the neoclassical growth model. The pros and cons of distinct types of convergence are explained in this work, and results of some influential convergence analyses are mentioned. In the empirical part of my thesis, I estimate beta and sigma convergence of the gross domestic product among the regions of both countries between years 1995 and 2009. Cross-sectional and panel data models were used for the estimation of the convergence coefficient. The results of my analysis are then confronted with the theory.
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Convergence or Divergence: The Analysis of Economic Growth in the CIS Countries
Hakimov, Durbek ; Cahlík, Tomáš (advisor) ; Holub, Tomáš (referee)
This dissertation examines from a comparative perspective the growth experience for a sample of twelve countries of the former Soviet Union over the period from 1991 to 2008. Two meth- ods of econometric analysis are applied: cross-section regressions and dynamic panel data esti- mation techniques. The main focus of the study has been to empirically establish whether coun- tries in the region are converging or diverging in terms of their income per capita and to find important sources of cross-country differences which determine the shape of this process. I did not find statistically significant support for conditional convergence in any cross-section period. It is partly supported by the increased dispersion of per capita income levels during the sample period. Meanwhile, panel data fixed-effects and GMM methods provide strong support for con- ditional convergence hypothesis. The first-differenced GMM estimator indicates a rate of con- vergence of around 2 per cent a year, which is surprisingly similar to the standard cross-section findings in empirical literature. However, it could be the result of the cyclical behaviour of out- put during transition. In general, results indicate that structural transformation is not yet over in most of the countries. Therefore progress in market-oriented reforms and...
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