Economic Welfare in Central and Southeast European Union Countries – An Econometric Approach

Authors

DOI:

https://doi.org/10.31926/but.es.2023.16.65.2.16

Keywords:

error correction term, long-run equilibrium, short-run equation, cointegration

Abstract

The importance of economic aggregates per capita: final consumption expenditure and Gross Domestic Product, for the well-being of the entire population of a country determined the analysis of the economic convergence in the countries of the Central and South-Eastern European Union (CSE). The econometric approach of convergence as a steady state of these variables was performed on panel data models with an error correction term. Establishing the long-run and short-run equations describes the convergence of welfare in the CSE region and the choice of the best model.

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Published

2024-01-09

Issue

Section

ECONOMIC DATA PROCESSING