Divergence Tendencies in the European Integration Process: A Danger for the Sustainability of the E(M)U?
Faculty of Economics, University of Hagen, 58084 Hagen, Germany
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Author to whom correspondence should be addressed.
Academic Editor: Agnieszka Gehringer
J. Risk Financial Manag. 2021, 14(3), 104; https://doi.org/10.3390/jrfm14030104
Received: 9 February 2021
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Revised: 26 February 2021
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Accepted: 3 March 2021
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Published: 5 March 2021
(This article belongs to the Special Issue European Market Integration and the Economic Development)
The European integration process started with the aim of reducing the differences in income and/or living standards between the participating countries over time. To achieve this, a certain alignment of institutions and structures was seen as a necessary precondition. While the goal of this income and institutional convergence was successfully achieved over a long period of time, this convergence development has weakened or even turned into divergence in the last one to two decades. This paper provides an overview of the empirical evidence for these convergence and divergence developments and develops policy implications (the challenges and possible ways out).
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Keywords:
European integration process; convergence dynamics; divergence; institutional quality; economic growth and economic development; European Union
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MDPI and ACS Style
Glawe, L.; Wagner, H. Divergence Tendencies in the European Integration Process: A Danger for the Sustainability of the E(M)U? J. Risk Financial Manag. 2021, 14, 104. https://doi.org/10.3390/jrfm14030104
AMA Style
Glawe L, Wagner H. Divergence Tendencies in the European Integration Process: A Danger for the Sustainability of the E(M)U? Journal of Risk and Financial Management. 2021; 14(3):104. https://doi.org/10.3390/jrfm14030104
Chicago/Turabian StyleGlawe, Linda, and Helmut Wagner. 2021. "Divergence Tendencies in the European Integration Process: A Danger for the Sustainability of the E(M)U?" Journal of Risk and Financial Management 14, no. 3: 104. https://doi.org/10.3390/jrfm14030104
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