Institutional and Socio-Economic Convergence in the European Union

Abstract

Th objective of this paper is to analyze convergence in institutional, social, and macroeconomic conditions between EU member states. Our analysis covers the period 1995-2013 and considers the potential impact of the Great Recession. With this aim, we use a composite indicator that combines information from 51 hard and soft indicators, and we estimate convergence equations for the composite indicator and its seven dimensions considering diffrent country groups. The obtained results show evidence of conditional convergence among EU member states but limited evidence of unconditional convergence over the considered period.