Cuaresma, Jesus Crespo; Oberhofer, Harald; Smits, Karlis; … - Economics Research, World Bank Group - 2012
convergence of EU11 income per capita to Western European levels will continue, but will proceed more slowly. The paper concludes … Europe, demographic developments will pose huge challenges for the sustainability of public finance in the EU11 economies. In … sizable returns in terms of additional income convergence. …