ANALYSIS OF ECONOMIC AND SOCIAL CONVERGENCE
OF EUROPEAN UNION COUNTRIES IN TIMES OF CRISIS Cover Image

ANALIZA KONWERGENCJI GOSPODARCZEJ I SPOŁECZNEJ KRAJÓW UNII EUROPEJSKIEJ W CZASACH KRYZYSU
ANALYSIS OF ECONOMIC AND SOCIAL CONVERGENCE OF EUROPEAN UNION COUNTRIES IN TIMES OF CRISIS

Author(s): Karolina Magdalena Kluth
Subject(s): Supranational / Global Economy, Social development, EU-Accession / EU-DEvelopment, Socio-Economic Research
Published by: Wydawnictwo Uniwersytetu w Białymstoku
Keywords: convergence; synthetic measure of development; ranking;

Summary/Abstract: Purpose – Determine the level of social and economic convergence of the various coun-tries of the European Union and its changes over time by creating rankings of countries.Research method – A synthetic measure of development was created using various nor-malization methods. In addition, the quality of the classification carried out was checked,using Kendall’s rank concordance coefficient, which made it possible to examine whetherthere is a process of gamma convergence between the countries of the European Union.The study was carried out for selected 8 years from the period 2000–2022, which madeit possible to assess changes over time.Results – The occurrence of statistically significant gamma convergence in the groupof countries studied was confirmed throughout the period under review. In 2009, theconvergence process was weakened due to the economic collapse caused by the globaleconomic crisis, and in 2016 it was weakened by the occurrence of the banking crisisin Europe and the onset of reflation after a period of falling prices in the economy. Theoutbreak of armed conflict in Ukraine in 2022, also indicates a negative impact on thegamma convergence process. It should be noted that Brexit did not have a significantimpact on the convergence process in the group of countries studied.Originality   / value   / implications   / recommendations – Constructing a synthetic measureof social and economic development makes it possible to rank countries according to ac-cepted measures that meet the conditions of universality, variability, validity and stability.

  • Issue Year: 114/2023
  • Issue No: 4
  • Page Range: 220-237
  • Page Count: 18
  • Language: Polish