Application of ß – Convergence Approach in Visegrad Four Regions

The paper focuses on the analysis of real convergence process in the Visegrad Four countries. The aim of the paper is to verify concept of β-convergence at regional level in the case of new Member States of the European Union. The theoretical background of the paper defines the methodological concept of real convergence. It focuses mainly on the concept of β- convergence which is the case of unconditional convergence. This approach is based on the neoclassical growth model. The empirical part of the paper concentrates on the analysis of β- convergence in 35 NUTS 2 regions of the Visegrad Four countries in the period between 1995 and 2012 to a steady state. The steady state is represented by an average of real GDP per capita in EU 28. Used approach assumes that the steady state is changing during the observed period with a nonzero growth. The process of β-convergence is analyzed and evaluated by nonlinear regression econometric model, which is formulated in two variations based on the mathematical concept of deterministic convergence. Gross domestic product per capita in constant prices is used to estimate both models.