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European regions experience accelerating ageing, but the process has substantial regional variation. This paper examines the effect of this variation on regional economic cohesion in Europe. We measure the effect of convergence or divergence in the share of the working age population on convergence or divergence in economies of NUTS 2 regions. The effect of convergence or divergence in ageing on economic convergence or divergence is quite substantial and, in some cases, is bigger than the effect of changes in productivity and labour force participation. Convergence of ageing leads to economic convergence only when the share of the working age population in rich regions exceeds that in poor regions and the former regions experience a substantial decline in the share of the working age population, or the latter regions experience an increase. During 2003–12, an inverse relationship between convergence in ageing and economic convergence was the rule rather than the exception.

Economic convergence within the EMS member states is a precondition for further moves to economic and monetary integration. The Delors Report has set out a path toward EMU in three stages, where transition to the next stage depends on some degree of convergence being achieved in the previous stage. In October 1990, the European Council in Rome agreed that 'in order to move on to the second phase (of economic and monetary union), further satisfactory and lasting progress toward real and monetary convergence will have to be achieved' (Press communique, European Council, Rome, 28 October 1990). The draft treaty text for the Maastricht summit states that before the start of the second phase in January 1994, the council shall assess the progress made with regard to economic and monetary convergence, and in particular with regard to price stability and balanced public finances.

The article deals with the study of economic convergence of the Polish voivodships by sector, and is an example of the use of nonparametric methods. As a basic tool used to apply for the convergence of nonparametric method of DEA (Data Envelopment Analysis), which enriched nuclear estimation method, proposed by Quah, involving the analysis of the distribution of labor productivity and its changes over time. Its use in conjunction with the DEA allowed to present the evolution of the distribution of labor productivity in the voivodships in the coming years. Moreover, based on the results of the Malmquist decomposition index, analysis was carried out of alternative distributions of the variable, taking into account the impact of the individual components of the index on changing its distribution. The study shows the main sources of economic convergence (divergence) in agriculture, industry and services sectors.

Before the outbreak of the coronavirus (COVID-19) pandemic, discussions were already taking place on how to complete Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of the current unprecedented crisis on the euro area economy has given the debate new impetus. As a contribution to this topic - and without going into details of new mechanisms for crisis resolution - this paper analyses the role of fiscal transfers in real and business cycle convergence at a regional level. The paper distinguishes between net fiscal transfers - a broad measure defined as the ratio between disposable and primary incomes - and EU structural and investment funds. It provides evidence that net fiscal transfers have contributed to income redistribution across regions and to faster convergence in disposable incomes, although not to higher economic growth and real convergence. More positive evidence has been found for the role of the EU structural and investment funds over the medium term, based on the newly available - and richest so far - European Commission database. Going forward, in addition to efficiency considerations, which are important for real convergence, recommendations on the size and allocation of fiscal transfers should account for their impact on the business cycle. At the same time, in the longer run, it should be borne in mind that fiscal transfers are no substitute for genuine structural reforms and sound macroeconomic and fiscal policies when it comes to promoting sustainable economic growth and convergence.

The paper characterizes the convergence of economic growth across economies on accounting for the sovereign debts rating, a measure of the safety of government debts. The empirical analysis combines a cross-section with a panel data regression on a sample of 180 economies over 1990-2019. The evidence records that there exists the convergence of economic growth (-convergence): an economy with lower initial per capita GDP has a higher average growth rate of per capita GDP. Moreover, on cross-section data, the sovereign debts rating amplifies the convergence process, and also exerts a positive effect on the steady state level of per capita GDP relative to that level of world leading economy. And on panel data, the convergence only applies for an economy attains a high enough sovereign debts rating (higher than a threshold of 10.8 established by the data). This result also constitutes an inverted-U-shaped dependence pattern of economic growth on the per capita GDP. These analysis together uncover one mechanism for the convergence that a higher sovereing debts rating raises both the domestic investment and foreign capital inflows, then, stimulating the capital stock accumulation toward the steady state per capita GDP.

This paper critically engages with State/Space theory by interrogating the soundness of its fundamental assumptions regarding the rescaling of capitalism and by questioning the validity of its proposition about ever-rising spatial imbalances and economic divergence in post-1970s' Europe. The paper employs descriptive, cartographic and econometric analysis of the regional and urban growth data covering 28 European Union countries and 11 major OECD and BRICS economies. The vast volume of multi-scalar evidence presented here cannot substantiate the central rescaling hypothesis about Europe's increasing spatial disparities. A set of alternative explanations is proposed to account for the reported European economic convergence trends.

What policies should be pursued by, first, the peripheral countries, like Greece and Eastern Europe, and, second, by the median countries, like Spain, to qualify for monetary union? How should the core countries coordinate their fiscal policies once in a monetary union? This book considers the widening and deepening process of European integration and is based on work carried out for DG II of the European Commission in 1992-05. The conclusions reached for the median countries were endorsed by the finance ministers in Verona in 1996.

Objective: The objective of the article is to studied phenomenon of international economic convergence applied to China.Research Design & Methods: The analysis methods, synthesis, economic and managerial comparativists, economic statistics, Hofstede method are used in this work.Findings: Authors have conducted comparative analysis of production and consumption within economic totalitarianism. This symbiosis of socialism and capitalism lies based on a convergent socio-economic system, the theoretical foundations of which reside at the beginning of creation.Implications & Recommendations: The changes in economic activity were tremendous at the end of the 20th and the beginning of the 21st century. It has been identified that the current world experience includes de-globalization, re-industrialization, new economics and management. The conducted research will be useful for trade policy development, international economic relations with investigated countries. Contribution & Value Added: The authors carried out an analysis of the cultures of the studied countries using the Greet Hofstede method. The role of Confucianism as a religion and philosophy in the economic development of China is revealed. The Chinese governance model is investigated that consists of three elements: democracy, experimentation between local and central government, meritocracy.