Borsi, Mihály; Metiu, Norbert - In: Empirical Economics 48 (2015) 2, pp. 657-681
This paper investigates per capita real income convergence in the European Union (EU) within a non-linear latent factor … income convergence in the EU, however, we identify convergence clubs using an iterative testing procedure. The clubs are … formed mainly on the basis of geographic region, and clustering is not necessarily related to EMU membership. The empirical …