• 1 Introduction
  • 2 The concept of convergence clubs
  • 3 Real convergence and current account developments in central, easternand south-eastern Europe and in emerging Asia – an overview
  • 4 The current account and financial development – a review of theliterature
  • 5 The current account and financial development – an empiricalinvestigation
  • 5.1. Model specification
  • 5.2. Estimation results
  • 5.3. Robustness check
  • 5.4. Contribution analysis
  • 6 Conclusions
  • 7 Literature
  • 8 Data Appendix