| Abstrakt: |
The main aim of this research is to assess the degree of convergence between the most important indicators of the economic governance process, as defined by the World Bank. Using as a sample of data all the 28 member states of the European Union and a time frame between 1996 and 2013, the obtained results do not confirm the absolute convergence hypothesis, except for the case of 'voice and accountability' indicator. In order to investigate this debated subject, we applied the panel unit root tests on relative values, as they generate more accurate results. The overall conclusion of the study is that, due to the high degree of heterogeneity between states, high levels associated to public debts, political tensions and the national prioritisation of the economic governance aspects, there is still a high level of divergence between the member states of the European Union. |
