academy of economic studies, bucharest doctoral school of finance and banking
DESCRIPTION
ACADEMY OF ECONOMIC STUDIES, BUCHAREST DOCTORAL SCHOOL OF FINANCE AND BANKING. Real economic convergence in the CEE countries. MSc Student: Iancu Guda Supervisor: Professor Moisă Altăr. Real economic convergence in the CEE countries. Contents: Abstract Review of the Literature - PowerPoint PPT PresentationTRANSCRIPT
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ACADEMY OF ECONOMIC STUDIES, BUCHARESTDOCTORAL SCHOOL OF FINANCE AND BANKINGReal economic convergence in the CEE countriesMSc Student: Iancu Guda Supervisor: Professor Mois Altr
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Real economic convergence in the CEE countries
Contents:Abstract
Review of the Literature3. Data and Methodology
4. Estimation results
5. Conclusions and remarks
6. References
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ABSTRACT
This study aims to assess the economic convergence of the European countries, and especially the convergence of the 12 CEE countries that acceded European Union after 2000 (Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia EU members starting with 2004, Bulgaria and Romania EU members starting with 2007 ).
Convergence among the group is studied, as well as their convergence with the EU 15. Time series, panel data and SVAR models are used to assess the economic growth, approximate the period of real convergence of Romania to the EU, as well as to estimate the - and -convergence , and the main shortcomings of the last indicator.
The objectives of the present study are :
To know whether the selected 12 EU countries are converging in absolute beta sense independently and jointly
To test for conditional convergence across countries
To measure the speed of absolute and conditional convergence to assess the required time to fill the gap in the economic development
To study the underling factors that support and accelerate real convergence.
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REVIEW OF THE LITERATURE
Under the convergence hypothesis, countries starting with a low per capita income should have a higher growth rate. Thus, an inverse relationship between output growth and initial output is interpreted as evidence in favor of the convergence hypothesis.
The theoretical literature on economic growth has gone through several phases, and the answers to the above questions depend on the specification of the respective growth model :
neoclassical (exogenous) growth model (Solow-Swan 1956) - the economy converges towards a steady state due to diminishing returns to investment in physical capital - Assuming a constant population, the long-run growth rate is solely determined by the rate of technological change, which is assumed to be exogenous. - economic policy changes will only have a temporary effect on economic activity - convergence of per capita output across countries with a similar productivity level, savings rate, depreciation rate, productivity growth and population growth (*) Endogenous growth : - Determine the long-run growth rate within the model ( endogenous growth models ) -Incorporation of R&D theories and imperfect competition ( Romer 1987,1990 ), Grossman and Helpman ( 1993 ) -In these new framework the long term growth rate depends on governmental action, such as taxation, maintenance of law and order, provisions and infrastructure services, protection of intellectual property rights, regulation of international trade -The new research also includes models of the diffusion of technology
(*)Viewed in the same simple way, the catch-up process would be self-limiting because as a follower catches up, the possibility of making large leaps becomes smaller and smaller (Abramovitz, MOSES, (1986))
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REVIEW OF THE LITERATURE
Neoclassical theory of economic growth Models of exogenous growth
Y = F(K,L) production function is neoclassical if the following three properties are satisfied :
1. ; and ;
F(K,L) = F(K,L) for all > 0
Inada Conditions : and
Solow and Swan Model (1956)
Y = F(K,L) = L*F(K/L,1) = L*f(k) => y=f(k)
Differential Equation of the Solow-Swan model :
Exogenous variable : population growth rate, rate of technological progressConstant variables : savings rate, capital depreciation rate
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REVIEW OF THE LITERATUREThe above case covers the so-called conditional convergence, that is the alternative implying that all economies with differences in the initial stock of capital per capita have the same saving rates (s), similar technologies (the same parameters A and ), as well as the same population (labour) growth rates (n). Unless such requirements are met, the equilibrium points of the rich countries differ from those of the poor countries, and the convergence cannot take place.
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REVIEW OF THE LITERATURE
New methodological approaches to convergence and its determinants
The new theory is focused in finding out the real causes and mechanisms of the long-term disparities (through cross-section analysis or long time series), by correlating the growth rate of production and income per capita at national or/and regional level with several economic, social and political variables that could be either the engine or the brake of economic growth.
Usually, conditioning variables such as education attainment, government spending, political instability, and the growth rate of the terms of trade are included in such an output regression equation to control for effects of other growth factors (Barro and Sala-i-Martin, 1995).
There are authors who conducted empiric research on convergence using the modified and augmented dynamic neoclassical model that involved the human capital and technological progress besides the physical capital. For example, Mankiw, Romer and Weil (1992), and Islam (1995) revealed, by the new variants of models, that the economies with an initially low level of the income tended to increase faster than those with initially high level of the income after they had introduced in the model the saving rate and the population growth rate, as control variables.
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REVIEW OF THE LITERATURE
New econometric testing of the new calculation tools and models, such as :
the and indicators (Barro and Sala-i-Martin, 1991)the augmentent dynamic neoclassical model : Mankiw, Romer, Weil, 1992 ( with human and fix capital ) // Islam, 1995 // Bassanini, Scarpetta, 2001). Conclude convergence proof after they had introduced in the model the saving rate and the population growth rate, as control variables.Barro, Sala-i-Martin, Blanchard and Hall (1991) considered variables like capital mobility, labour migrationFischer Stanley, Ratna Sahay and Carlos Vegh. 1998, growth regression in panel data with variables like GDP, inflation, enrolment, investments, government spending ( also Robert J. Barro 1991) Ross Levine and David Renelt 1992 Extreme bound analyses to test the robustness, include variables like trade and investmentsSergio Rebelo 1997 determinants of economic growth ; Easterly, W., Rebelo, S., 1993 fiscal policy influence over growth perspectiveRobert E. Hall and Charles I. Jones regression the study the differences of GDP levels among countriesthe stochastic convergence model (Lee Kevin, M Hashem Pesaran, Ron Smith ; 1997)Blanchard, O.J., Perotti, R., 2002. VAR models testing governments spending and taxation influence over economic growthBart Verspagen 1994 and Ben David : trend calculation for series of per capita income relative to group average
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REVIEW OF THE LITERATUREThe counter-reaction literature
The appropriateness of the cross-country regression approach is challenged by, for example, Quah (1993), Bernard and Durlauf (1996), and Evans (1997)
Quah (1993) shows that a negative correlation between output growth and initial output is consistent with a stable variance in cross-country output. Durlauf, 1996; Quah, 1996 time series models to negate convergence and promote the presence ofconvergence clubs and the polarisation of the countries in rich and poor ones. They argue that the initial-output regression approach tends to reject the null hypothesis of no convergence too often in the presence of multiple output equilibriumBernard and Durlauf (1995), using the unit root and cointegration techniques, detect the presence of multiple integrated processes driving the output data of the OECD countriesUsing a panel unit root test, Evans (1998) shows that convergence occurs within a group of developed countries and different growth patterns are observed among countries with different literacy rates
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DATA AND METHODOLOGY
I Time series I.1 Verspagen (1994)
This test assumes the following relation between per capita income relative to the group average in different periods t and t - 1.
where Yt is defined as (Q/P)/(Q/CP), and Q denotes RGDP, P denotes population (in thousands), and indicates the sum in some group of countries
The assumed relationship allows for : converging (if < l)diverging (if > l)stable (if = 1) differences in per capita income
Data are comprised from Alan Heston, Robert Summers and Bettina Aten, Penn World Table Version 6.3, Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania, August 2009 for the 12 CEE countries and UE15 average values
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DATA AND METHODOLOGYIn order to estimate the value of for different periods of time, the next steps are followed:For each case (defined as a combination of countries, years, and reference group), a pooled cross-country time series dataset is set up. In turn, is estimated by OLS for the subset for periods t - 2 to t + 2. This means that the number of observations in each OLS estimate is five times the number of countries in the analysis. The resulting estimate of is attributed to t, and plotted in a graph together with the estimates for other periods. The estimated coefficient plus/minus two times the estimated standard error is also plotted, so that a (reasonably wide) confidence interval is established. Whenever this confidence interval is completely below (above) unity, convergence (divergence) is said to be observed. Whenever the confidence interval embraces the unit line, no particular trend is found.
The objectives are:
To test for convergence differences in per capita income within the 12 CEE countries group to this purpose the series of RGDP/cap ( Real GDP per capita in 2000 values as base year) are comprised with annual frequency between 1993-2007. The series are divided in subset of periods t - 2 to t + 2. Hence, we obtain a final 11 observation for each country. The pooled data comprises 60 observations (12 cross country and 5 time series ) of country individual RGDP/cap difference from groups average. To test for convergence differences in per capita income between the CEE countries and UE15 average value. The time series is extended to 1970-2007 range, thus including 34 annual observations ( after extracting subsets of 5 years each ). Due to data limitation, only 6 CEE countries are included ( Bulgaria, Cyprus, Hungary, Malta, Poland, Romania ). Hence, the polled data comprises 30 observations ( 6 cross section and 5 time series ) of country individual RGDP/cap difference from UE15 average.
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DATA AND METHODOLOGYI.2 . Convergence tests for pairs of countries ( methodology used in M. Hashem Pesaran, 2007)
A time-series based approach to investigate output convergence has been proposed by Bernard and Durlauf (1996) and Quah (1992). According to Bernard and Durlauf (1996), there is output convergence between two countries if the long-run forecasts of their real per capita outputs are the same. If pair-wise convergence holds for all the pairs of countries under consideration, then there is convergence of all the countries simultaneously.
Specifically, let Yi,t be the (logarithm of the) country is real per capita output at time t and Y*,t is the output variable of the benchmark country. The no-convergence hypothesis is stated as :H0 : = I(1), i = 1,,N
World Table Version 6.3, Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania, August 2009 for the 12 CEE countries and UE15 average values. Values for annual Real GDP /capita (in 2000 values as base year) are found for the following series:
1970-2007 for Bulgaria, Cyprus, Hungary, Malta, Poland, Romania and UE151987-2007 for Slovak Republic1990-2007 for Czech Republic, Estonia, Slovenia 1993-2007 for Lithuania and LatviaIn testing for: Convergence within the 12 CEE countries group, ADF stationary test are applied for N(N-1)/2 possible pairs of log per-capita output gaps across N economies. Convergence between the 12 CEE countries and UE15 average real GDP/capita, stationary is tested for 12 output pairs differentials.
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DATA AND METHODOLOGYII. Panel Data ( methodology also used in Islam 1995 // Crespo-Cuaresma J, Dimitz MA, Ritzberger-Grunwald 2002 // Matkowski Z, Prochniak M 2004 // Rajasalu Teet 2003 )
Pooled data LSDV (Least Square Dummy Variable ) fixed effects for cross and time series ( intercept / slope variation)ECM ( Error Components Model ) or Random Effects
Variables : real GDP per capita growth rate (difference of consecutive log values ) LN of Real GDP per capita Trade ( export + import ) % of GDP Gross Capital Formation % of GDPTotal Government Expenditure % of GDPTotal Government Income % of GDP Saving rate % of GDP Enrollment ( secondary + tertiary ISCED Levels )
Data series for 12 EU members acceded after 2000 ( Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia EU members starting with 2004, Bulgaria and Romania EU members starting with 2007 ), period 1995-2009. Source : Eurostat
Observations : 12 Countries, 15 years ( 1995 2009 ), 5 time intervals ( 3 years each ) = 60 panel data observations (12 Cross countries and 5 interval time series )
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DATA AND METHODOLOGY
Argumentation:
Why not include 1990-1994 data ? The beginning of the transition of the former socialist countries caused a massive fall of output which rivaled, and in several countries even surpassed, the dimension of the United States recession during the Great Depression. After a few years, the fall in output stopped, and a few countries, mostly Central and Eastern European ones (CEE), started a process of economic growth. The success of reforms and the sustained economic growth spurred a whole line of research on the determinants of economic growth and on the long run economic growth perspectives of the CEE countries.
Why 3 years for each period ? The standard approach for reducing the effects of structural changes and business cycles, is to divide the series and average data on 5 years ( or even 10 if longer data available ) for each interval. Due to data limitation ( total range of data compiled 15 years ), a 5 years interval would have reduced the degree of freedom
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DATA AND METHODOLOGY
II. Panel Data
The above equations are estimated to test for :
Absolute Convergence
Absolute convergence speed
The fixed effects
LSDV
Random effects
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DATA AND METHODOLOGYIII. Structural VAR ( methodology used in Sarah M. Lein, Miguel A. Leon-Ledesma, Carolin Nerlich, 2008)
Variables : real GDP per capita growth rate (difference of consecutive log values ) Trade ( export + import ) % of GDP Gross Capital Formation % of GDP empirically assess their relevance using a Structural VAR method for Lithuania and Romania in trying to find out the real causes and mechanisms of the long-term disparities
Data is compiled from :
EUROSTAT , with quarterly frequency between 1995 Q1 : 2009 Q4, comprising 60 observations for each variable for LithuaniaNations Institute of Statistics ( Romanias official webpage) with quarterly frequency between 2000 Q1 : 2009 Q4, comprising 40 observation for each variable for Romania.
Observation: All series are seasonally adjusted using the Census X12 seasonal adjustment procedures
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ESTIMATION RESULTSScatter Plot Evidence: Romania and Bulgaria, although having the lowest Real GDP per capita in the group for the starting year, fail to converge in terms of absolute convergence ( as in Barro and Sala-i-Martin, 1991)Average growth rate for Romania and Bulgaria in 1995-2009 bellow groups averageBetter convergence results ( adjusted R squared, F statistic ) for the group when excluding Romania and Bulgaria (Panel Data)
Country1995 Real GDP per capita, EURReal Per Capita Average Growth Rate (1995:2009)Bulgaria 1,700.00 3.41%Czech Republic 5,500.00 2.62%Estonia 3,100.00 5.76%Cyprus 12,900.00 1.84%Latvia 2,600.00 5.65%Lithuania 2,700.00 5.54%Hungary 4,100.00 3.05%Malta 10,700.00 0.53%Poland 3,700.00 4.59%Romania 1,939.48 3.05%Slovenia 8,700.00 3.31%Slovakia 3,500.00 4.35%
Chart3
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AVERAGE REAL GROWTH RATE - INITIAL GDP
AVERAGE REAL GROWTH RATE - INITIAL GDP
ALL
BulgariaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199517007.4383835391.00%38.00%37.10%10.90%87.07%15.70%
199615007.43838353105.40%37.00%38.00%8.45%87.33%8.10%-12.52%
199715007.43838353112.00%39.00%39.00%15.46%88.77%9.90%0.00%
199815007.4383835393.90%40.60%39.30%16.64%88.77%16.90%0.00%
199916007.4383835394.90%42.00%41.80%13.09%88.55%17.90%6.45%
200017007.43838353116.80%42.20%42.60%12.73%89.06%18.30%6.06%
200118007.43838353118.70%40.90%40.30%14.56%90.08%20.70%5.72%
200219007.43838353111.40%39.50%40.30%16.56%91.02%19.80%5.41%
200320007.43838353117.30%40.00%40.30%15.60%91.23%21.70%5.13%
200422007.43838353125.50%41.30%39.70%17.27%92.00%23.10%9.53%
200523007.43838353136.60%41.20%39.30%16.47%91.43%28.00%4.45%
200625007.43838353147.80%39.50%36.50%13.12%90.94%31.70%8.34%
200726007.43838353148.90%41.50%41.50%14.31%90.61%36.80%3.92%
200828007.43838353143.80%39.10%37.30%15.44%90.29%38.30%7.41%
200926607.43838353107.70%36.90%40.70%17.90%89.97%26.20%-5.13%
Czech RepublicREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199555008.6125033712105.80%41.00%54.50%28.97%72.58%32.60%
199658008.6125033712103.70%39.30%42.60%27.03%72.59%33.70%5.31%
199757008.6125033712109.40%39.40%43.20%24.35%71.03%30.50%-1.74%
199857008.6125033712109.50%38.20%43.20%26.32%71.03%28.40%0.00%
199958008.6125033712112.10%38.60%42.30%24.61%73.17%27.10%1.74%
200060008.6125033712129.80%38.10%41.80%24.78%75.45%29.50%3.39%
200162008.6125033712133.30%38.70%44.40%27.01%80.03%29.50%3.28%
200263008.6125033712122.50%39.50%46.30%26.48%79.09%28.60%1.60%
200365008.6125033712125.90%40.70%47.30%24.89%80.98%27.20%3.13%
200468008.6125033712140.20%42.20%45.10%27.58%79.82%27.50%4.51%
200572008.6125033712141.20%41.40%45.00%28.85%80.97%25.70%5.72%
200677008.6125033712149.40%41.10%43.70%30.21%81.76%26.80%6.71%
200781008.6125033712155.20%41.80%42.50%31.97%82.24%27.00%5.06%
200882008.6125033712149.60%40.20%42.90%28.87%82.72%25.30%1.23%
20097855.68.6125033712133.30%40.30%46.10%26.25%83.21%21.50%-4.29%
EstoniaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199531008.0391573905143.80%42.40%41.30%21.42%77.99%28.20%
199633008.0391573905134.80%39.10%39.50%20.72%78.10%28.10%6.25%
199737008.0391573905154.30%39.60%37.40%20.27%76.16%30.90%11.44%
199840008.0391573905159.20%38.50%39.20%21.73%76.16%31.00%7.80%
199941008.0391573905145.70%36.70%40.10%20.72%73.59%25.30%2.47%
200045008.0391573905172.80%35.90%36.10%23.15%69.68%28.40%9.31%
200148008.0391573905162.10%34.70%34.80%25.44%67.41%27.90%6.45%
200253008.0391573905149.20%36.00%35.80%24.93%67.93%32.30%9.91%
200357008.0391573905145.90%36.50%34.80%25.66%68.05%33.10%7.28%
200461008.0391573905153.20%35.60%34.00%26.01%69.05%33.10%6.78%
200567008.0391573905161.90%35.20%33.60%27.29%69.72%33.80%9.38%
200674008.0391573905172.00%36.50%34.00%27.88%71.15%38.70%9.94%
200779008.0391573905156.90%37.40%34.80%27.85%72.29%40.20%6.54%
200876008.0391573905155.40%37.10%39.90%24.67%73.47%29.70%-3.87%
200966008.0391573905135.80%43.60%45.40%23.34%74.70%19.40%-14.11%
CyprusREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
1995129009.4649825903100.10%32.30%33.10%20.05%89.11%21.90%
1996129009.4649825903104.50%31.90%35.10%16.88%87.39%21.60%0.00%
1997130009.4649825903105.40%31.10%36.10%15.06%90.01%19.40%0.77%
1998135009.4649825903100.50%32.60%36.70%24.74%90.01%19.20%3.77%
1999140009.4649825903101.80%32.50%36.80%16.27%91.31%17.00%3.64%
2000145009.4649825903109.90%34.70%37.00%14.47%90.71%18.30%3.51%
2001149009.4649825903109.90%35.90%38.20%13.20%89.44%16.40%2.72%
2002151009.4649825903103.10%35.80%40.20%15.01%90.45%18.80%1.33%
2003151009.464982590395.20%38.50%45.00%15.12%90.74%17.40%0.00%
2004154009.464982590398.00%38.70%42.80%14.54%90.41%20.20%1.97%
2005156009.464982590399.20%41.20%43.60%13.76%89.78%19.90%1.29%
2006159009.464982590399.80%42.20%43.40%13.52%90.01%20.80%1.90%
2007165009.4649825903102.10%45.50%42.20%10.80%88.86%22.40%3.70%
2008169009.4649825903101.00%43.50%42.60%6.79%87.73%24.10%2.40%
200916612.79.464982590384.60%40.30%46.40%9.16%86.65%17.20%-1.71%
LatviaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199526007.86326672486.20%37.00%38.60%14.65%79.67%15.00%
199628007.86326672499.60%36.50%36.90%13.17%79.80%18.10%7.41%
199730007.86326672499.80%37.50%36.30%15.10%77.76%20.60%6.90%
199832007.863266724105.20%40.20%40.20%15.27%77.76%24.80%6.45%
199933007.86326672490.00%37.90%41.80%14.53%76.88%23.40%3.08%
200036007.86326672490.30%34.60%37.30%18.93%73.74%23.70%8.70%
200139007.86326672492.70%32.50%34.60%19.06%70.88%26.60%8.00%
200242007.86326672491.50%33.40%35.60%20.03%67.86%26.70%7.41%
200345007.86326672496.70%33.20%34.80%20.57%67.52%28.80%6.90%
200449007.863266724103.60%34.70%35.80%20.19%69.11%33.00%8.52%
200555007.863266724110.00%35.10%35.60%21.91%71.43%34.40%11.55%
200662007.863266724111.20%37.70%38.10%17.19%72.18%39.70%11.98%
200768007.863266724104.60%35.40%35.70%17.88%73.93%40.40%9.24%
200865007.86326672496.50%34.40%38.60%18.53%75.72%31.50%-4.51%
200954007.86326672485.30%34.00%42.90%27.63%77.55%19.00%-18.54%
LithuaniaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199527007.901007052105.60%32.90%34.40%13.51%76.71%22.60%
199629007.901007052109.30%33.10%36.40%12.37%76.87%21.00%7.15%
199731007.901007052113.30%37.90%49.60%15.52%74.81%24.50%6.67%
199834007.901007052101.60%37.10%40.10%13.81%74.81%24.30%9.24%
199934007.90100705287.40%37.10%39.90%11.53%71.81%21.30%0.00%
200035007.90100705295.70%35.90%39.10%12.99%61.82%18.90%2.90%
200138007.901007052105.10%33.20%36.80%14.57%59.73%19.30%8.22%
200241007.901007052111.10%32.90%34.70%15.56%60.15%20.70%7.60%
200345007.901007052108.20%31.90%33.20%15.11%60.98%21.90%9.31%
200449007.901007052111.20%31.80%33.30%15.20%62.04%22.70%8.52%
200553007.901007052122.10%32.80%33.30%16.81%62.26%23.90%7.85%
200657007.901007052128.40%33.10%33.60%15.96%63.08%26.30%7.28%
200763007.901007052121.50%33.80%34.80%15.33%63.96%30.90%10.01%
200865007.901007052131.90%34.20%37.40%14.67%64.85%27.00%3.13%
200956007.901007052108.70%34.10%43.00%14.65%65.76%11.00%-14.90%
HungaryREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199541008.318742252789.60%46.90%55.60%19.17%76.01%22.10%
199641008.318742252795.80%46.30%50.60%22.36%75.98%25.60%0.00%
199743008.3187422527107.90%43.70%49.20%22.97%74.49%26.80%4.76%
199846008.3187422527122.60%43.00%50.40%23.15%74.49%29.40%6.74%
199948008.3187422527129.40%43.30%48.40%20.53%74.39%28.00%4.26%
200050008.3187422527149.80%43.80%46.90%21.75%74.68%29.40%4.08%
200152008.3187422527143.20%43.20%47.30%21.31%75.21%26.80%3.92%
200255008.3187422527127.60%42.30%51.20%18.81%75.20%25.60%5.61%
200357008.3187422527126.10%42.20%49.40%16.27%77.10%24.60%3.57%
200460008.3187422527129.10%42.30%48.70%17.26%77.14%26.40%5.13%
200563008.3187422527133.80%42.20%50.10%15.79%77.58%23.90%4.88%
200665008.3187422527155.10%42.60%52.00%16.47%77.73%24.00%3.13%
200766008.3187422527159.40%44.80%49.80%17.15%77.86%23.50%1.53%
200866008.3187422527163.30%45.40%49.20%16.53%77.98%23.40%0.00%
200962008.3187422527148.80%45.80%49.80%19.21%78.11%18.50%-6.25%
MaltaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
1995107009.2779990204179.40%35.50%39.70%16.43%59.02%29.60%
1996108009.2779990204167.90%34.60%42.60%13.23%59.21%26.30%0.93%
1997107009.2779990204160.50%35.30%42.90%13.76%57.41%21.70%-0.93%
1998107009.2779990204163.20%33.10%43.00%13.71%57.41%19.20%0.00%
1999108009.2779990204171.10%35.30%43.00%12.95%55.79%18.20%0.93%
2000108009.2779990204194.80%34.80%41.00%15.59%62.54%26.20%0.00%
2001106009.2779990204168.40%36.60%43.10%12.92%59.83%17.60%-1.87%
2002108009.2779990204166.40%37.70%43.20%16.66%59.93%14.30%1.87%
2003107009.2779990204163.30%37.90%47.80%14.79%64.87%16.50%-0.93%
2004107009.2779990204161.90%40.80%45.50%13.05%57.62%16.90%0.00%
2005110009.2779990204160.00%42.00%44.80%15.13%61.24%20.50%2.77%
2006113009.2779990204179.20%41.20%43.70%17.31%62.57%22.30%2.69%
2007116009.2779990204181.40%40.30%42.40%19.89%60.42%21.90%2.62%
2008118009.2779990204164.80%40.30%44.80%15.22%58.43%18.20%1.71%
2009115009.2779990204142.60%40.50%44.30%14.19%56.58%11.60%-2.58%
PolandREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199537008.216088098644.20%43.30%47.70%20.12%82.92%18.70%
199640008.216088098646.00%46.10%51.00%19.84%82.83%20.90%7.80%
199742008.216088098650.70%41.80%46.40%20.05%81.34%23.40%4.88%
199845008.216088098656.80%40.10%44.30%21.23%81.34%25.10%6.90%
199947008.216088098654.30%40.40%42.70%20.17%82.10%25.30%4.35%
200049008.216088098660.60%38.10%41.10%19.46%82.83%24.80%4.17%
200149008.216088098657.80%38.50%43.80%18.38%83.72%20.80%0.00%
200250008.216088098660.70%39.30%44.30%16.48%84.31%18.60%2.02%
200352008.216088098669.30%38.50%44.70%17.03%84.40%18.70%3.92%
200455008.216088098677.30%37.20%42.60%15.94%83.87%20.10%5.61%
200557008.216088098674.90%39.40%43.40%18.06%84.71%19.30%3.57%
200660008.216088098682.60%40.20%43.90%18.01%84.48%21.10%5.13%
200764008.216088098684.40%40.30%42.20%19.35%84.27%24.40%6.45%
200868008.216088098684.00%39.60%43.30%18.75%83.56%23.70%6.06%
20096915.68.216088098677.70%37.40%44.50%18.67%82.85%20.20%1.69%
RomaniaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
19951939.47961135717.570174974538.00%33.80%35.90%10.90%77.76%22.95%
19962015.11931627.570174974542.00%30.90%34.70%9.45%77.66%21.17%3.83%
19971899.26427.570174974546.00%30.50%34.90%11.53%76.32%18.17%-5.92%
19981812.2757.570174974553.20%32.00%35.20%10.62%76.32%17.70%-4.69%
199917757.570174974560.20%34.80%39.20%14.63%76.06%15.20%-2.08%
200018007.570174974570.90%33.80%38.50%16.09%75.77%19.40%1.40%
200119007.570174974573.80%32.50%36.00%17.99%77.66%22.20%5.41%
200221007.570174974576.40%33.00%35.00%21.65%78.33%22.00%10.01%
200322007.570174974577.10%32.00%33.50%22.45%80.27%22.00%4.65%
200424007.570174974580.60%32.30%33.50%21.79%80.65%23.70%8.70%
200525007.570174974576.30%32.30%33.50%15.95%81.02%23.30%4.08%
200627007.570174974576.60%33.10%35.30%18.47%80.42%26.50%7.70%
200729007.570174974572.50%33.50%36.00%20.17%78.97%31.00%7.15%
20083111.77.570174974573.90%32.10%37.60%21.61%77.55%31.30%7.05%
20092890.76937.570174974568.40%32.10%40.40%24.25%76.16%25.10%-7.36%
SloveniaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199587009.0710783046101.70%44.30%52.60%22.97%90.74%23.70%
199690009.0710783046101.40%43.30%44.50%23.21%90.97%23.30%3.39%
199795009.0710783046104.20%42.50%44.80%24.23%92.83%24.60%5.41%
199898009.0710783046104.30%43.30%45.70%24.64%92.83%25.70%3.11%
1999104009.071078304699.40%43.40%46.50%24.07%92.54%27.80%5.94%
2000108009.0710783046111.30%43.00%46.70%24.05%89.19%27.30%3.77%
2001111009.0710783046111.80%43.60%47.60%24.37%86.38%24.80%2.74%
2002115009.0710783046109.30%43.90%46.30%24.66%85.80%23.80%3.54%
2003118009.0710783046108.20%43.70%46.40%24.31%85.65%25.20%2.58%
2004123009.0710783046117.30%43.60%45.80%24.82%85.85%27.40%4.15%
2005128009.0710783046124.60%43.80%45.20%25.47%86.52%27.20%3.98%
2006135009.0710783046133.50%43.20%44.50%26.54%86.87%28.90%5.32%
2007144009.0710783046140.80%42.40%42.40%27.25%86.95%31.70%6.45%
2008149009.0710783046138.40%42.60%44.30%26.06%87.04%32.20%3.41%
2009136009.0710783046116.30%44.40%49.90%22.95%87.15%23.50%-9.13%
SlovakiaREAL GDP/capitaLN GDP 95EXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%GDP GROWTH
199535008.1605182475113.30%45.20%48.60%26.82%85.25%24.40%
199637008.1605182475117.40%43.80%53.70%24.60%85.34%34.10%5.56%
199739008.1605182475122.40%42.60%49.00%25.14%83.30%34.30%5.26%
199840008.1605182475129.20%40.50%45.80%24.20%83.30%33.60%2.53%
199940008.1605182475126.80%40.70%48.10%23.82%82.89%27.80%0.00%
200041008.1605182475143.50%39.90%52.20%23.50%82.98%26.00%2.47%
200142008.1605182475153.60%38.00%44.50%22.51%83.98%29.60%2.41%
200244008.1605182475149.60%36.90%45.10%21.68%85.33%29.10%4.65%
200346008.1605182475153.60%37.40%40.20%18.33%85.68%24.60%4.45%
200449008.1605182475151.90%35.30%37.70%19.76%87.47%26.40%6.32%
200552008.1605182475157.20%35.20%38.00%20.38%86.37%28.90%5.94%
200656008.1605182475172.80%33.50%36.90%19.77%86.06%28.00%7.41%
200762008.1605182475174.50%32.50%34.40%22.68%86.37%27.80%10.18%
200866008.1605182475168.30%32.50%34.80%21.32%86.68%28.10%6.25%
200963008.1605182475140.50%34.00%40.80%16.99%87.00%20.60%-4.65%
SCATTER
BulgariaREAL GDP/capitaCountry1995 Real GDP per capita, EURAconvergence speed last sheet
19951,700.00Bulgaria1,700.0010%Bulgaria2.57%
19961,500.00Czech Republic5,500.0010%Czech Republic5.23%
19971,500.00Estonia3,100.0014%Estonia11.85%
19981,500.00Cyprus12,900.009%Cyprus4.85%
19991,600.00Latvia2,600.0014%Latvia9.39%
20001,700.00Lithuania2,700.0014%Lithuania9.72%
20011,800.00Hungary4,100.0010%Hungary5.31%
20021,900.00Malta10,700.007%Malta-5.32%
20032,000.00Poland3,700.0012%Poland10.21%
20042,200.00Romania1,939.4810%Romania2.34%
20052,300.00Slovenia8,700.0010%Slovenia13.09%
20062,500.00Slovakia3,500.0012%Slovakia8.66%
20072,600.00
20082,800.00
20092,660.000.1043137255
Czech RepublicREAL GDP/capita
19955,500.00
19965,800.00
19975,700.00
19985,700.00
19995,800.00
20006,000.00
20016,200.00
20026,300.00
20036,500.00
20046,800.00
20057,200.00
20067,700.00
20078,100.00
20088,200.00
20097,855.600.0952193939
EstoniaREAL GDP/capita
19953,100.00
19963,300.00
19973,700.00
19984,000.00
19994,100.00
20004,500.00
20014,800.00
20025,300.00
20035,700.00
20046,100.00
20056,700.00
20067,400.00
20077,900.00
20087,600.00
20096,600.000.1419354839
CyprusREAL GDP/capita
199512,900.00
199612,900.00
199713,000.00
199813,500.00
199914,000.00
200014,500.00
200114,900.00
200215,100.00
200315,100.00
200415,400.00
200515,600.00
200615,900.00
200716,500.00
200816,900.00
200916,612.700.0858537468
LatviaREAL GDP/capita
19952,600.00
19962,800.00
19973,000.00
19983,200.00
19993,300.00
20003,600.00
20013,900.00
20024,200.00
20034,500.00
20044,900.00
20055,500.00
20066,200.00
20076,800.00
20086,500.00
20095,400.000.1384615385
LithuaniaREAL GDP/capita
19952,700.00
19962,900.00
19973,100.00
19983,400.00
19993,400.00
20003,500.00
20013,800.00
20024,100.00
20034,500.00
20044,900.00
20055,300.00
20065,700.00
20076,300.00
20086,500.00
20095,600.000.1382716049
HungaryREAL GDP/capita
19954,100.00
19964,100.00
19974,300.00
19984,600.00
19994,800.00
20005,000.00
20015,200.00
20025,500.00
20035,700.00
20046,000.00
20056,300.00
20066,500.00
20076,600.00
20086,600.00
20096,200.000.10
MaltaREAL GDP/capita
199510,700.00
199610,800.00
199710,700.00
199810,700.00
199910,800.00
200010,800.00
200110,600.00
200210,800.00
200310,700.00
200410,700.00
200511,000.00
200611,300.00
200711,600.00
200811,800.00
200911,500.000.0716510903
PolandREAL GDP/capita
19953,700.00
19964,000.00
19974,200.00
19984,500.00
19994,700.00
20004,900.00
20014,900.00
20025,000.00
20035,200.00
20045,500.00
20055,700.00
20066,000.00
20076,400.00
20086,800.00
20096,915.600.1246054054
RomaniaREAL GDP/capita
19951,939.48
19962,015.12
19971,899.26
19981,812.28
19991,775.00
20001,800.00
20011,900.00
20022,100.00
20032,200.00
20042,400.00
20052,500.00
20062,700.00
20072,900.00
20083,111.70
20092,890.770.0993658052
SloveniaREAL GDP/capita
19958,700.00
19969,000.00
19979,500.00
19989,800.00
199910,400.00
200010,800.00
200111,100.00
200211,500.00
200311,800.00
200412,300.00
200512,800.00
200613,500.00
200714,400.00
200814,900.00
200913,600.000.1042145594
SlovakiaREAL GDP/capita
19953,500.00
19963,700.00
19973,900.00
19984,000.00
19994,000.00
20004,100.00
20014,200.00
20024,400.00
20034,600.00
20044,900.00
20055,200.00
20065,600.00
20076,200.00
20086,600.00
20096,300.000.12
SCATTER
AVERAGE REAL GROWTH RATE - INITIAL GDP
SCATTER_2
BulgariaREAL GDP/capitaCountry1995 Real GDP per capita, EURReal Per Capita Average Growth Rate (1995:2009)convergence speed last sheet
19951,700.00Bulgaria1,700.003.41%Bulgaria2.57%
19961,500.000.88Czech Republic5,500.002.62%Czech Republic5.23%
19971,500.001.00Estonia3,100.005.76%Estonia11.85%
19981,500.001.00Cyprus12,900.001.84%Cyprus4.85%
19991,600.001.07Latvia2,600.005.65%Latvia9.39%
20001,700.001.06Lithuania2,700.005.54%Lithuania9.72%
20011,800.001.06Hungary4,100.003.05%Hungary5.31%
20021,900.001.06Malta10,700.000.53%Malta-5.32%
20032,000.001.05Poland3,700.004.59%Poland10.21%
20042,200.001.10Romania1,939.483.05%Romania2.34%
20052,300.001.05Slovenia8,700.003.31%Slovenia13.09%
20062,500.001.09Slovakia3,500.004.35%Slovakia8.66%
20072,600.001.04
20082,800.001.08
20092,660.000.95
AVERAGE0.03
Czech RepublicREAL GDP/capita
19955,500.00
19965,800.001.05
19975,700.000.98
19985,700.001.00
19995,800.001.02
20006,000.001.03
20016,200.001.03
20026,300.001.02
20036,500.001.03
20046,800.001.05
20057,200.001.06
20067,700.001.07
20078,100.001.05
20088,200.001.01
20097,855.600.96
AVERAGE0.03
EstoniaREAL GDP/capita
19953,100.00
19963,300.001.06
19973,700.001.12
19984,000.001.08
19994,100.001.03
20004,500.001.10
20014,800.001.07
20025,300.001.10
20035,700.001.08
20046,100.001.07
20056,700.001.10
20067,400.001.10
20077,900.001.07
20087,600.000.96
20096,600.000.87
AVERAGE0.06
CyprusREAL GDP/capita
199512,900.00
199612,900.001.00
199713,000.001.01
199813,500.001.04
199914,000.001.04
200014,500.001.04
200114,900.001.03
200215,100.001.01
200315,100.001.00
200415,400.001.02
200515,600.001.01
200615,900.001.02
200716,500.001.04
200816,900.001.02
200916,612.700.98
AVERAGE0.02
LatviaREAL GDP/capita
19952,600.00
19962,800.001.08
19973,000.001.07
19983,200.001.07
19993,300.001.03
20003,600.001.09
20013,900.001.08
20024,200.001.08
20034,500.001.07
20044,900.001.09
20055,500.001.12
20066,200.001.13
20076,800.001.10
20086,500.000.96
20095,400.000.83
AVERAGE0.06
LithuaniaREAL GDP/capita
19952,700.00
19962,900.001.07
19973,100.001.07
19983,400.001.10
19993,400.001.00
20003,500.001.03
20013,800.001.09
20024,100.001.08
20034,500.001.10
20044,900.001.09
20055,300.001.08
20065,700.001.08
20076,300.001.11
20086,500.001.03
20095,600.000.86
AVERAGE0.06
HungaryREAL GDP/capita
19954,100.00
19964,100.001.00
19974,300.001.05
19984,600.001.07
19994,800.001.04
20005,000.001.04
20015,200.001.04
20025,500.001.06
20035,700.001.04
20046,000.001.05
20056,300.001.05
20066,500.001.03
20076,600.001.02
20086,600.001.00
20096,200.000.94
AVERAGE0.03
MaltaREAL GDP/capita
199510,700.00
199610,800.001.01
199710,700.000.99
199810,700.001.00
199910,800.001.01
200010,800.001.00
200110,600.000.98
200210,800.001.02
200310,700.000.99
200410,700.001.00
200511,000.001.03
200611,300.001.03
200711,600.001.03
200811,800.001.02
200911,500.000.97
AVERAGE0.01
PolandREAL GDP/capita
19953,700.00
19964,000.001.08
19974,200.001.05
19984,500.001.07
19994,700.001.04
20004,900.001.04
20014,900.001.00
20025,000.001.02
20035,200.001.04
20045,500.001.06
20055,700.001.04
20066,000.001.05
20076,400.001.07
20086,800.001.06
20096,915.601.02
AVERAGE0.05
RomaniaREAL GDP/capita
19951,939.48
19962,015.121.04
19971,899.260.94
19981,812.280.95
19991,775.000.98
20001,800.001.01
20011,900.001.06
20022,100.001.11
20032,200.001.05
20042,400.001.09
20052,500.001.04
20062,700.001.08
20072,900.001.07
20083,111.701.07
20092,890.770.93
AVERAGE0.03
SloveniaREAL GDP/capita
19958,700.00
19969,000.001.03
19979,500.001.06
19989,800.001.03
199910,400.001.06
200010,800.001.04
200111,100.001.03
200211,500.001.04
200311,800.001.03
200412,300.001.04
200512,800.001.04
200613,500.001.05
200714,400.001.07
200814,900.001.03
200913,600.000.91
AVERAGE0.03
SlovakiaREAL GDP/capita
19953,500.00
19963,700.001.06
19973,900.001.05
19984,000.001.03
19994,000.001.00
20004,100.001.03
20014,200.001.02
20024,400.001.05
20034,600.001.05
20044,900.001.07
20055,200.001.06
20065,600.001.08
20076,200.001.11
20086,600.001.06
20096,300.000.95
AVERAGE0.04
SCATTER_2
AVERAGE REAL GROWTH RATE - INITIAL GDP
AVERAGE REAL GROWTH RATE - INITIAL GDP
PANEL INTERVALE 5
BulgariaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%LN GDPDIF LNDIF LN/3ln Y0
1995170091.00%38.00%37.10%10.90%87.07%15.70%7.4384
19971500112.00%39.00%39.00%15.46%88.77%9.90%7.3132-12.52%-0.04172104777.4384
1998150093.90%40.60%39.30%16.64%88.77%16.90%7.3132
20001700116.80%42.20%42.60%12.73%89.06%18.30%7.438412.52%0.04172104777.3132
20011800118.70%40.90%40.30%14.56%90.08%20.70%7.4955
20032000117.30%40.00%40.30%15.60%91.23%21.70%7.600910.54%0.03512017197.4955
20042200125.50%41.30%39.70%17.27%92.00%23.10%7.6962
20062500147.80%39.50%36.50%13.12%90.94%31.70%7.824012.78%0.04261112387.6962
20072600148.90%41.50%41.50%14.31%90.61%36.80%7.8633
20092660107.70%36.90%40.70%17.90%89.97%26.20%7.88612.28%0.00760489267.8633
Czech RepublicREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19955500105.80%41.00%54.50%28.97%72.58%32.60%8.6125
19975700109.40%39.40%43.20%24.35%71.03%30.50%8.64823.57%0.01190602758.6125
19985700109.50%38.20%43.20%26.32%71.03%28.40%8.6482
20006000129.80%38.10%41.80%24.78%75.45%29.50%8.69955.13%0.01709776488.6482
20016200133.30%38.70%44.40%27.01%80.03%29.50%8.7323
20036500125.90%40.70%47.30%24.89%80.98%27.20%8.77964.73%0.01575096168.7323
20046800140.20%42.20%45.10%27.58%79.82%27.50%8.8247
20067700149.40%41.10%43.70%30.21%81.76%26.80%8.949012.43%0.04143257228.8247
20078100155.20%41.80%42.50%31.97%82.24%27.00%8.9996
20097855.6133.30%40.30%46.10%26.25%83.21%21.50%8.9690-3.06%-0.01021246958.9996
EstoniaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19953100143.80%42.40%41.30%21.42%77.99%28.20%8.0392
19973700154.30%39.60%37.40%20.27%76.16%30.90%8.216117.69%0.05897690278.0392
19984000159.20%38.50%39.20%21.73%76.16%31.00%8.2940
20004500172.80%35.90%36.10%23.15%69.68%28.40%8.411811.78%0.03926101198.2940
20014800162.10%34.70%34.80%25.44%67.41%27.90%8.4764
20035700145.90%36.50%34.80%25.66%68.05%33.10%8.648217.19%0.0572834198.4764
20046100153.20%35.60%34.00%26.01%69.05%33.10%8.7160
20067400172.00%36.50%34.00%27.88%71.15%38.70%8.909219.32%0.06439707638.7160
20077900156.90%37.40%34.80%27.85%72.29%40.20%8.9746
20096600135.80%43.60%45.40%23.34%74.70%19.40%8.7948-17.98%-0.05993103688.9746
CyprusREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
199512900100.10%32.30%33.10%20.05%89.11%21.90%9.4650
199713000105.40%31.10%36.10%15.06%90.01%19.40%9.47270.77%0.00257401549.4650
199813500100.50%32.60%36.70%24.74%90.01%19.20%9.5104
200014500109.90%34.70%37.00%14.47%90.71%18.30%9.58197.15%0.02381965479.5104
200114900109.90%35.90%38.20%13.20%89.44%16.40%9.6091
20031510095.20%38.50%45.00%15.12%90.74%17.40%9.62251.33%0.00444451039.6091
20041540098.00%38.70%42.80%14.54%90.41%20.20%9.6421
20061590099.80%42.20%43.40%13.52%90.01%20.80%9.67413.20%0.01065053339.6421
200716500102.10%45.50%42.20%10.80%88.86%22.40%9.7111
200916612.784.60%40.30%46.40%9.16%86.65%17.20%9.71790.68%0.00226902749.7111
LatviaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
1995260086.20%37.00%38.60%14.65%79.67%15.00%7.8633
1997300099.80%37.50%36.30%15.10%77.76%20.60%8.006414.31%0.04770028127.8633
19983200105.20%40.20%40.20%15.27%77.76%24.80%8.0709
2000360090.30%34.60%37.30%18.93%73.74%23.70%8.188711.78%0.03926101198.0709
2001390092.70%32.50%34.60%19.06%70.88%26.60%8.2687
2003450096.70%33.20%34.80%20.57%67.52%28.80%8.411814.31%0.04770028128.2687
20044900103.60%34.70%35.80%20.19%69.11%33.00%8.4970
20066200111.20%37.70%38.10%17.19%72.18%39.70%8.732323.53%0.0784380298.4970
20076800104.60%35.40%35.70%17.88%73.93%40.40%8.8247
2009540085.30%34.00%42.90%27.63%77.55%19.00%8.5942-23.05%-0.07684121958.8247
LithuaniaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19952700105.60%32.90%34.40%13.51%76.71%22.60%7.9010
19973100113.30%37.90%49.60%15.52%74.81%24.50%8.039213.82%0.04605011287.9010
19983400101.60%37.10%40.10%13.81%74.81%24.30%8.1315
2000350095.70%35.90%39.10%12.99%61.82%18.90%8.16052.90%0.00966251238.1315
20013800105.10%33.20%36.80%14.57%59.73%19.30%8.2428
20034500108.20%31.90%33.20%15.11%60.98%21.90%8.411816.91%0.05635877678.2428
20044900111.20%31.80%33.30%15.20%62.04%22.70%8.4970
20065700128.40%33.10%33.60%15.96%63.08%26.30%8.648215.12%0.05041032328.4970
20076300121.50%33.80%34.80%15.33%63.96%30.90%8.7483
20095600108.70%34.10%43.00%14.65%65.76%11.00%8.6305-11.78%-0.03926101198.7483
HungaryREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
1995410089.60%46.90%55.60%19.17%76.01%22.10%8.3187
19974300107.90%43.70%49.20%22.97%74.49%26.80%8.36644.76%0.01587601638.3187
19984600122.60%43.00%50.40%23.15%74.49%29.40%8.4338
20005000149.80%43.80%46.90%21.75%74.68%29.40%8.51728.34%0.02779386968.4338
20015200143.20%43.20%47.30%21.31%75.21%26.80%8.5564
20035700126.10%42.20%49.40%16.27%77.10%24.60%8.64829.18%0.03060251648.5564
20046000129.10%42.30%48.70%17.26%77.14%26.40%8.6995
20066500155.10%42.60%52.00%16.47%77.73%24.00%8.77968.00%0.02668090268.6995
20076600159.40%44.80%49.80%17.15%77.86%23.50%8.7948
20096200148.80%45.80%49.80%19.21%78.11%18.50%8.7323-6.25%-0.0208401198.7948
MaltaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
199510700179.40%35.50%39.70%16.43%59.02%29.60%9.2780
199710700160.50%35.30%42.90%13.76%57.41%21.70%9.27800.00%09.2780
199810700163.20%33.10%43.00%13.71%57.41%19.20%9.2780
200010800194.80%34.80%41.00%15.59%62.54%26.20%9.28730.93%0.00310079769.2780
200110600168.40%36.60%43.10%12.92%59.83%17.60%9.2686
200310700163.30%37.90%47.80%14.79%64.87%16.50%9.27800.94%0.00312991349.2686
200410700161.90%40.80%45.50%13.05%57.62%16.90%9.2780
200611300179.20%41.20%43.70%17.31%62.57%22.30%9.33265.46%0.01818632819.2780
200711600181.40%40.30%42.40%19.89%60.42%21.90%9.3588
200911500142.60%40.50%44.30%14.19%56.58%11.60%9.3501-0.87%-0.00288602099.3588
PolandREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
1995370044.20%43.30%47.70%20.12%82.92%18.70%8.2161
1997420050.70%41.80%46.40%20.05%81.34%23.40%8.342812.68%0.04225056858.2161
1998450056.80%40.10%44.30%21.23%81.34%25.10%8.4118
2000490060.60%38.10%41.10%19.46%82.83%24.80%8.49708.52%0.02838593618.4118
2001490057.80%38.50%43.80%18.38%83.72%20.80%8.4970
2003520069.30%38.50%44.70%17.03%84.40%18.70%8.55645.94%0.01980780688.4970
2004550077.30%37.20%42.60%15.94%83.87%20.10%8.6125
2006600082.60%40.20%43.90%18.01%84.48%21.10%8.69958.70%0.02900379238.6125
2007640084.40%40.30%42.20%19.35%84.27%24.40%8.7641
20096915.677.70%37.40%44.50%18.67%82.85%20.20%8.84157.75%0.02582724638.7641
RomaniaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19951939.479611357138.00%33.80%35.90%10.90%77.76%22.95%7.5702
19971899.264246.00%30.50%34.90%11.53%76.32%18.17%7.5492-2.10%-0.00698438257.5702
19981812.27553.20%32.00%35.20%10.62%76.32%17.70%7.5023
2000180070.90%33.80%38.50%16.09%75.77%19.40%7.4955-0.68%-0.00226543247.5023
2001190073.80%32.50%36.00%17.99%77.66%22.20%7.5496
2003220077.10%32.00%33.50%22.45%80.27%22.00%7.696214.66%0.04886782477.5496
2004240080.60%32.30%33.50%21.79%80.65%23.70%7.7832
2006270076.60%33.10%35.30%18.47%80.42%26.50%7.901011.78%0.03926101197.7832
2007290072.50%33.50%36.00%20.17%78.97%31.00%7.9725
20092890.769368.40%32.10%40.40%24.25%76.16%25.10%7.9693-0.32%-0.00106269227.9725
SloveniaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19958700101.70%44.30%52.60%22.97%90.74%23.70%9.0711
19979500104.20%42.50%44.80%24.23%92.83%24.60%9.15908.80%0.02932292439.0711
19989800104.30%43.30%45.70%24.64%92.83%25.70%9.1901
200010800111.30%43.00%46.70%24.05%89.19%27.30%9.28739.72%0.03238791629.1901
200111100111.80%43.60%47.60%24.37%86.38%24.80%9.3147
200311800108.20%43.70%46.40%24.31%85.65%25.20%9.37596.12%0.02038480779.3147
200412300117.30%43.60%45.80%24.82%85.85%27.40%9.4174
200613500133.50%43.20%44.50%26.54%86.87%28.90%9.51049.31%0.0310301419.4174
200714400140.80%42.40%42.40%27.25%86.95%31.70%9.5750
200913600116.30%44.40%49.90%22.95%87.15%23.50%9.5178-5.72%-0.01905280469.5750
SlovakiaREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%
19953500113.30%45.20%48.60%26.82%85.25%24.40%8.1605
19973900122.40%42.60%49.00%25.14%83.30%34.30%8.268710.82%0.03607119498.1605
19984000129.20%40.50%45.80%24.20%83.30%33.60%8.2940
20004100143.50%39.90%52.20%23.50%82.98%26.00%8.31872.47%0.00823087098.2940
20014200153.60%38.00%44.50%22.51%83.98%29.60%8.3428
20034600153.60%37.40%40.20%18.33%85.68%24.60%8.43389.10%0.03032392618.3428
20044900151.90%35.30%37.70%19.76%87.47%26.40%8.4970
20065600172.80%33.50%36.90%19.77%86.06%28.00%8.630513.35%0.04451046428.4970
20076200174.50%32.50%34.40%22.68%86.37%27.80%8.7323
20096300140.50%34.00%40.80%16.99%87.00%20.60%8.74831.60%0.00533344718.7323
PAN INTERV 5 FINAL
ALLFARA RO si BULGSUMMARY OUTPUT
PerioadaTARADIF LN/3ln Y0SUMMARY OUTPUTPerioadaTARADIF LN/3ln Y0
1995-1997Bulgaria-4.17%7.43841995-1997Czech Republic1.19%8.6125Regression Statistics
1998-2000Bulgaria4.17%7.3132Regression Statistics1998-2000Czech Republic1.71%8.6482Multiple R0.4536505246
2001-2003Bulgaria3.51%7.4955Multiple R0.26956276912001-2003Czech Republic1.58%8.7323R Square0.2057987984
2004-2006Bulgaria4.26%7.6962R Square0.07266408652004-2006Czech Republic4.14%8.8247Adjusted R Square0.1892529401
2007-2009Bulgaria0.76%7.8633Adjusted R Square0.05667553632007-2009Czech Republic-1.02%8.9996Standard Error0.0265478144
1995-1997Czech Republic1.19%8.6125Standard Error0.02845054051995-1997Estonia5.90%8.0392Observations50
1998-2000Czech Republic1.71%8.6482Observations601998-2000Estonia3.93%8.2940
2001-2003Czech Republic1.58%8.73232001-2003Estonia5.73%8.4764ANOVA
2004-2006Czech Republic4.14%8.8247ANOVA2004-2006Estonia6.44%8.7160dfSSMSFSignificance F
2007-2009Czech Republic-1.02%8.9996dfSSMSFSignificance F2007-2009Estonia-5.99%8.9746Regression10.0087661940.00876619412.43808534390.0009372025
1995-1997Estonia5.90%8.0392Regression10.0036786780.0036786784.54475768140.03726701641995-1997Cyprus0.26%9.4650Residual480.03382974960.0007047864
1998-2000Estonia3.93%8.2940Residual580.04694712870.00080943331998-2000Cyprus2.38%9.5104Total490.0425959436
2001-2003Estonia5.73%8.4764Total590.05062580672001-2003Cyprus0.44%9.6091
2004-2006Estonia6.44%8.71602004-2006Cyprus1.07%9.6421CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%
2007-2009Estonia-5.99%8.9746CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%2007-2009Cyprus0.23%9.7111Intercept0.25405257820.06644434933.8235392610.00037905680.12045726240.38764789390.12045726240.3876478939
1995-1997Cyprus0.26%9.4650Intercept0.12688501020.05052267252.51144692170.0148307750.02575289420.22801712620.02575289420.22801712621995-1997Latvia4.77%7.8633X Variable 1-0.02672833780.0075787082-3.52676698180.0009372025-0.0419663517-0.011490324-0.0419663517-0.011490324
1998-2000Cyprus2.38%9.5104X Variable 1-0.0125432250.005883745-2.13184372820.0372670164-0.0243208202-0.0007656297-0.0243208202-0.00076562971998-2000Latvia3.93%8.0709
2001-2003Cyprus0.44%9.60912001-2003Latvia4.77%8.2687
2004-2006Cyprus1.07%9.64212004-2006Latvia7.84%8.4970
2007-2009Cyprus0.23%9.7111BETA1.30%2007-2009Latvia-7.68%8.8247BETA2.87%
1995-1997Latvia4.77%7.86331995-1997Lithuania4.61%7.9010
1998-2000Latvia3.93%8.07091998-2000Lithuania0.97%8.1315
2001-2003Latvia4.77%8.26872001-2003Lithuania5.64%8.2428
2004-2006Latvia7.84%8.49702004-2006Lithuania5.04%8.4970
2007-2009Latvia-7.68%8.82472007-2009Lithuania-3.93%8.7483
1995-1997Lithuania4.61%7.90101995-1997Hungary1.59%8.3187
1998-2000Lithuania0.97%8.13151998-2000Hungary2.78%8.4338
2001-2003Lithuania5.64%8.24282001-2003Hungary3.06%8.5564
2004-2006Lithuania5.04%8.49702004-2006Hungary2.67%8.6995
2007-2009Lithuania-3.93%8.74832007-2009Hungary-2.08%8.7948
1995-1997Hungary1.59%8.31871995-1997Malta0.00%9.2780
1998-2000Hungary2.78%8.43381998-2000Malta0.31%9.2780
2001-2003Hungary3.06%8.55642001-2003Malta0.31%9.2686
2004-2006Hungary2.67%8.69952004-2006Malta1.82%9.2780
2007-2009Hungary-2.08%8.79482007-2009Malta-0.29%9.3588
1995-1997Malta0.00%9.27801995-1997Poland4.23%8.2161
1998-2000Malta0.31%9.27801998-2000Poland2.84%8.4118
2001-2003Malta0.31%9.26862001-2003Poland1.98%8.4970
2004-2006Malta1.82%9.27802004-2006Poland2.90%8.6125
2007-2009Malta-0.29%9.35882007-2009Poland2.58%8.7641
1995-1997Poland4.23%8.21611995-1997Slovenia2.93%9.0711
1998-2000Poland2.84%8.41181998-2000Slovenia3.24%9.1901
2001-2003Poland1.98%8.49702001-2003Slovenia2.04%9.3147
2004-2006Poland2.90%8.61252004-2006Slovenia3.10%9.4174
2007-2009Poland2.58%8.76412007-2009Slovenia-1.91%9.5750
1995-1997Romania-0.70%7.57021995-1997Slovakia3.61%8.1605
1998-2000Romania-0.23%7.50231998-2000Slovakia0.82%8.2940
2001-2003Romania4.89%7.54962001-2003Slovakia3.03%8.3428
2004-2006Romania3.93%7.78322004-2006Slovakia4.45%8.4970
2007-2009Romania-0.11%7.97252007-2009Slovakia0.53%8.7323
1995-1997Slovenia2.93%9.0711
1998-2000Slovenia3.24%9.1901
2001-2003Slovenia2.04%9.3147
2004-2006Slovenia3.10%9.4174
2007-2009Slovenia-1.91%9.5750
1995-1997Slovakia3.61%8.1605
1998-2000Slovakia0.82%8.2940
2001-2003Slovakia3.03%8.3428
2004-2006Slovakia4.45%8.4970
2007-2009Slovakia0.53%8.7323
PANEL INTERVALE 5 FIX1
PerioadaTARAANULREAL GDP/capitaEXP+IMP %Venituri G%Cheltuieli%Economisire%SCHOOL 2+3 %GCF%LN GDPDIF LNDIF LN/3ln Y0D2D3D4D5D6D7D8D9D10D11D12
1995-1997Bulgaria19971500112.00%39.00%39.00%15.46%88.77%9.90%7.3132-12.52%-0.04172104777.438400000000000
1998-2000Bulgaria20001700116.80%42.20%42.60%12.73%89.06%18.30%7.438412.52%0.04172104777.313200000000000
2001-2003Bulgaria20032000117.30%40.00%40.30%15.60%91.23%21.70%7.600910.54%0.03512017197.495500000000000
2004-2006Bulgaria20062500147.80%39.50%36.50%13.12%90.94%31.70%7.824012.78%0.04261112387.696200000000000
2007-2009Bulgaria20092660107.70%36.90%40.70%17.90%89.97%26.20%7.88612.28%0.00760489267.863300000000000
1995-1997Czech Republic19975700109.40%39.40%43.20%24.35%71.03%30.50%8.64823.57%0.01190602758.612510000000000
1998-2000Czech Republic20006000129.80%38.10%41.80%24.78%75.45%29.50%8.69955.13%0.01709776488.648210000000000
2001-2003Czech Republic20036500125.90%40.70%47.30%24.89%80.98%27.20%8.77964.73%0.01575096168.732310000000000
2004-2006Czech Republic20067700149.40%41.10%43.70%30.21%81.76%26.80%8.949012.43%0.04143257228.824710000000000
2007-2009Czech Republic20097855.6133.30%40.30%46.10%26.25%83.21%21.50%8.9690-3.06%-0.01021246958.999610000000000
1995-1997Estonia19973700154.30%39.60%37.40%20.27%76.16%30.90%8.216117.69%0.05897690278.039201000000000
1998-2000Estonia20004500172.80%35.90%36.10%23.15%69.68%28.40%8.411811.78%0.03926101198.294001000000000
2001-2003Estonia20035700145.90%36.50%34.80%25.66%68.05%33.10%8.648217.19%0.0572834198.476401000000000
2004-2006Estonia20067400172.00%36.50%34.00%27.88%71.15%38.70%8.909219.32%0.06439707638.716001000000000
2007-2009Estonia20096600135.80%43.60%45.40%23.34%74.70%19.40%8.7948-17.98%-0.05993103688.974601000000000
1995-1997Cyprus199713000105.40%31.10%36.10%15.06%90.01%19.40%9.47270.77%0.00257401549.465000100000000
1998-2000Cyprus200014500109.90%34.70%37.00%14.47%90.71%18.30%9.58197.15%0.02381965479.510400100000000
2001-2003Cyprus20031510095.20%38.50%45.00%15.12%90.74%17.40%9.62251.33%0.00444451039.609100100000000
2004-2006Cyprus20061590099.80%42.20%43.40%13.52%90.01%20.80%9.67413.20%0.01065053339.642100100000000
2007-2009Cyprus200916612.784.60%40.30%46.40%9.16%86.65%17.20%9.71790.68%0.00226902749.711100100000000
1995-1997Latvia1997300099.80%37.50%36.30%15.10%77.76%20.60%8.006414.31%0.04770028127.863300010000000
1998-2000Latvia2000360090.30%34.60%37.30%18.93%73.74%23.70%8.188711.78%0.03926101198.070900010000000
2001-2003Latvia2003450096.70%33.20%34.80%20.57%67.52%28.80%8.411814.31%0.04770028128.268700010000000
2004-2006Latvia20066200111.20%37.70%38.10%17.19%72.18%39.70%8.732323.53%0.0784380298.497000010000000
2007-2009Latvia2009540085.30%34.00%42.90%27.63%77.55%19.00%8.5942-23.05%-0.07684121958.824700010000000
1995-1997Lithuania19973100113.30%37.90%49.60%15.52%74.81%24.50%8.039213.82%0.04605011287.901000001000000
1998-2000Lithuania2000350095.70%35.90%39.10%12.99%61.82%18.90%8.16052.90%0.00966251238.131500001000000
2001-2003Lithuania20034500108.20%31.90%33.20%15.11%60.98%21.90%8.411816.91%0.05635877678.242800001000000
2004-2006Lithuania20065700128.40%33.10%33.60%15.96%63.08%26.30%8.648215.12%0.05041032328.497000001000000
2007-2009Lithuania20095600108.70%34.10%43.00%14.65%65.76%11.00%8.6305-11.78%-0.03926101198.748300001000000
1995-1997Hungary19974300107.90%43.70%49.20%22.97%74.49%26.80%8.36644.76%0.01587601638.318700000100000
1998-2000Hungary20005000149.80%43.80%46.90%21.75%74.68%29.40%8.51728.34%0.02779386968.433800000100000
2001-2003Hungary20035700126.10%42.20%49.40%16.27%77.10%24.60%8.64829.18%0.03060251648.556400000100000
2004-2006Hungary20066500155.10%42.60%52.00%16.47%77.73%24.00%8.77968.00%0.02668090268.699500000100000
2007-2009Hungary20096200148.80%45.80%49.80%19.21%78.11%18.50%8.7323-6.25%-0.0208401198.794800000100000
1995-1997Malta199710700160.50%35.30%0.42913.76%57.41%21.70%9.27800.00%09.277999020400000010000
1998-2000Malta200010800194.80%34.80%41.00%15.59%62.54%26.20%9.28730.93%0.00310079769.278000000010000
2001-2003Malta200310700163.30%37.90%47.80%14.79%64.87%16.50%9.27800.94%0.00312991349.268600000010000
2004-2006Malta200611300179.20%41.20%43.70%17.31%62.57%22.30%9.33265.46%0.01818632819.278000000010000
2007-2009Malta200911500142.60%40.50%44.30%14.19%56.58%11.60%9.3501-0.87%-0.00288602099.358800000010000
1995-1997Poland1997420050.70%41.80%46.40%20.05%81.34%23.40%8.342812.68%0.04225056858.216100000001000
1998-2000Poland2000490060.60%38.10%41.10%19.46%82.83%24.80%8.49708.52%0.02838593618.411800000001000
2001-2003Poland2003520069.30%38.50%44.70%17.03%84.40%18.70%8.55645.94%0.01980780688.497000000001000
2004-2006Poland2006600082.60%40.20%43.90%18.01%84.48%21.10%8.69958.70%0.02900379238.612500000001000
2007-2009Poland20096915.677.70%37.40%44.50%18.67%82.85%20.20%8.84157.75%0.02582724638.764100000001000
1995-1997Romania19971899.264246.00%30.50%34.90%11.53%76.32%18.17%7.5492-2.10%-0.00698438257.570200000000100
1998-2000Romania2000180070.90%33.80%38.50%16.09%75.77%19.40%7.4955-0.68%-0.00226543247.502300000000100
2001-2003Romania2003220077.10%32.00%33.50%22.45%80.27%22.00%7.696214.66%0.04886782477.549600000000100
2004-2006Romania2006270076.60%33.10%35.30%18.47%80.42%26.50%7.901011.78%0.03926101197.783200000000100
2007-2009Romania20092890.769368.40%32.10%40.40%24.25%76.16%25.10%7.9693-0.32%-0.00106269227.972500000000100
1995-1997Slovenia19979500104.20%42.50%44.80%24.23%92.83%24.60%9.15908.80%0.02932292439.071100000000010
1998-2000Slovenia200010800111.30%43.00%46.70%24.05%89.19%27.30%9.28739.72%0.03238791629.190100000000010
2001-2003Slovenia200311800108.20%43.70%46.40%24.31%85.65%25.20%9.37596.12%0.02038480779.314700000000010
2004-2006Slovenia200613500133.50%43.20%44.50%26.54%86.87%28.90%9.51049.31%0.0310301419.417400000000010
2007-2009Slovenia200913600116.30%44.40%49.90%22.95%87.15%23.50%9.5178-5.72%-0.01905280469.575000000000010
1995-1997Slovakia19973900122.40%42.60%49.00%25.14%83.30%34.30%8.268710.82%0.03607119498.160500000000001
1998-2000Slovakia20004100143.50%39.90%52.20%23.50%82.98%26.00%8.31872.47%0.00823087098.294000000000001
2001-2003Slovakia20034600153.60%37.40%40.20%18.33%85.68%24.60%8.43389.10%0.03032392618.342800000000001
2004-2006Slovakia20065600172.80%33.50%36.90%19.77%86.06%28.00%8.630513.35%0.04451046428.497000000000001
2007-2009Slovakia20096300140.50%34.00%40.80%16.99%87.00%20.60%8.74831.60%0.00533344718.732300000000001
PANEL INT5 FIX1 REZULTAT
ALLSUMMARY OUTPUTFARA RO SI BULGSUMMARY OUTPUT
PerioadaTARAANULREAL GDP/capitaDIF LN/3ln Y0D2D3D4D5D6D7D8D9D10D11D12PerioadaTARAANULREAL GDP/capitaDIF LN/3ln Y0D2D3D4D5D6D7D8D9D10
1995-1997Bulgaria19971500-4.1721%7.438400000000000Regression Statistics1995-1997Czech Republic199757001.1906%8.6125000000000Regression Statistics
1998-2000Bulgaria200017004.1721%7.313200000000000Multiple R0.55601982961998-2000Czech Republic200060001.7098%8.6482000000000Multiple R0.6355309731
2001-2003Bulgaria200320003.5120%7.495500000000000R Square0.30915805092001-2003Czech Republic200365001.5751%8.7323000000000R Square0.4038996178
2004-2006Bulgaria200625004.2611%7.696200000000000Adjusted R Square0.13277287242004-2006Czech Republic200677004.1433%8.8247000000000Adjusted R Square0.251053366
2007-2009Bulgaria200926600.7605%7.863300000000000Standard Error0.02727887152007-2009Czech Republic20097855.6-1.0212%8.9996000000000Standard Error0.0255159368
1995-1997Czech Republic199757001.1906%8.612510000000000Observations601995-1997Estonia199737005.8977%8.0392100000000Observations50
1998-2000Czech Republic200060001.7098%8.6482100000000001998-2000Estonia200045003.9261%8.2940100000000
2001-2003Czech Republic200365001.5751%8.732310000000000ANOVA2001-2003Estonia200357005.7283%8.4764100000000ANOVA
2004-2006Czech Republic200677004.1433%8.824710000000000dfSSMSFSignificance F2004-2006Estonia200674006.4397%8.7160100000000dfSSMSFSignificance F
2007-2009Czech Republic20097855.6-1.0212%8.999610000000000Regression120.01565137570.00130428131.752743930.08535951372007-2009Estonia20096600-5.9931%8.9746100000000Regression100.01720448530.00172044852.6425222270.0145602075
1995-1997Estonia199737005.8977%8.039201000000000Residual470.0349744310.00074413681995-1997Cyprus1997130000.2574%9.4650010000000Residual390.02539145830.000651063
1998-2000Estonia200045003.9261%8.294001000000000Total590.05062580671998-2000Cyprus2000145002.3820%9.5104010000000Total490.0425959436
2001-2003Estonia200357005.7283%8.4764010000000002001-2003Cyprus2003151000.4445%9.6091010000000
2004-2006Estonia200674006.4397%8.716001000000000CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%2004-2006Cyprus2006159001.0651%9.6421010000000CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%
2007-2009Estonia20096600-5.9931%8.974601000000000Intercept0.52070058960.1268406934.10515408970.00015976460.2655300330.77587114620.2655300330.77587114622007-2009Cyprus200916612.70.2269%9.7111010000000Intercept0.68386900170.14718452794.64633756810.00003796740.38616019620.98157780710.38616019620.9815778071
1995-1997Cyprus1997130000.2574%9.465000100000000X Variable 1-0.06660649410.0166971607-3.98909103280.0002305834-0.1001968482-0.03301614-0.1001968482-0.033016141995-1997Latvia199730004.7700%7.8633001000000X Variable 1-0.07630246770.0167446907-4.55681559190.000050142-0.1101718013-0.0424331342-0.1101718013-0.0424331342
1998-2000Cyprus2000145002.3820%9.510400100000000X Variable 20.07819808320.02646796442.95444265590.00488140710.02495140770.13144475870.02495140770.13144475871998-2000Latvia200036003.9261%8.0709001000000X Variable 2-0.00329688390.0167296362-0.19706847420.8447974109-0.03713576680.0305419991-0.03713576680.0305419991
2001-2003Cyprus2003151000.4445%9.609100100000000X Variable 30.07745528610.0233094253.32291706840.0017312820.03056277230.12434779990.03056277230.12434779992001-2003Latvia200345004.7700%8.2687001000000X Variable 30.0564367670.02123303572.6579697740.0113385880.0134888990.09938463510.0134888990.0993846351
2004-2006Cyprus2006159001.0651%9.642100100000000X Variable 40.12664448390.03797736283.3347361340.00167297150.05024388590.20304508190.05024388590.20304508192004-2006Latvia200662007.8438%8.4970001000000X Variable 4-0.02293184620.0178712437-1.2831701390.2070054697-0.05907984820.0132161557-0.05907984820.0132161557
2007-2009Cyprus200916612.70.2269%9.711100100000000X Variable 50.05971233270.0212557682.80922959640.00721376070.01695124370.10247342170.01695124370.10247342172007-2009Latvia20095400-7.6841%8.8247001000000X Variable 5-0.02560017080.0178769794-1.43201880710.160104876-0.06175977440.0105594329-0.06175977440.0105594329
1995-1997Latvia199730004.7700%7.863300010000000X Variable 60.05705173290.02124800052.68504008270.00998747720.01430627030.09979719560.01430627030.09979719561995-1997Lithuania199731004.6050%7.9010000100000X Variable 6-0.01464676780.0164911269-0.88816051810.3798995579-0.04800322010.0187096845-0.04800322010.0187096845
1998-2000Latvia200036003.9261%8.070900010000000X Variable 70.06551769610.02400166732.72971436490.00889279640.01723257030.11380282190.01723257030.11380282191998-2000Lithuania200035000.9663%8.1315000100000X Variable 70.0294605890.01840737351.60047760680.1175632827-0.00777183780.0666930159-0.00777183780.0666930159
2001-2003Latvia200345004.7700%8.268700010000000X Variable 80.10253136360.03365970623.04611581920.0037941980.034816770.17024595720.034816770.17024595722001-2003Lithuania200345005.6359%8.2428000100000X Variable 8-0.0062205550.0167285528-0.37185254740.712015475-0.04005724640.0276161365-0.04005724640.0276161365
2004-2006Latvia200662007.8438%8.497000010000000X Variable 90.07452923450.02331218183.19700812510.00248447830.02763117480.12142729430.02763117480.12142729432004-2006Lithuania200657005.0410%8.4970000100000X Variable 90.04560014080.01858221762.4539665670.01869862350.00801405830.08318622340.00801405830.0831862234
2007-2009Latvia20095400-7.6841%8.824700010000000X Variable 100.00610498350.01735779540.35171421920.7266246147-0.02881439620.0410243632-0.02881439620.04102436322007-2009Lithuania20095600-3.9261%8.7483000100000X Variable 10-0.01762679490.0172158499-1.02387015530.3122057722-0.05244913780.017195548-0.05244913780.017195548
1995-1997Lithuania199731004.6050%7.901000001000000X Variable 110.11846363940.03396668923.48764163610.00106832140.05013147580.1867958030.05013147580.1867958031995-1997Hungary199743001.5876%8.3187000010000
1998-2000Lithuania200035000.9663%8.131500001000000X Variable 120.06404365670.0222768462.87489784750.00605387190.01922842380.10885888960.01922842380.10885888961998-2000Hungary200050002.7794%8.4338000010000
2001-2003Lithuania200345005.6359%8.2428000010000002001-2003Hungary200357003.0603%8.5564000010000
2004-2006Lithuania200657005.0410%8.4970000010000002004-2006Hungary200665002.6681%8.69950000100009.61%
2007-2009Lithuania20095600-3.9261%8.7483000010000008.10%2007-2009Hungary20096200-2.0840%8.7948000010000
1995-1997Hungary199743001.5876%8.3187000001000001995-1997Malta1997107000.00%9.2780000001000
1998-2000Hungary200050002.7794%8.4338000001000001998-2000Malta2000108000.3101%9.2780000001000
2001-2003Hungary200357003.0603%8.5564000001000002001-2003Malta2003107000.3130%9.2686000001000
2004-2006Hungary200665002.6681%8.6995000001000002004-2006Malta2006113001.8186%9.2780000001000
2007-2009Hungary20096200-2.0840%8.7948000001000002007-2009Malta200911500-0.2886%9.3588000001000
1995-1997Malta1997107000.00%9.2780000000100001995-1997Poland199742004.2251%8.2161000000100
1998-2000Malta2000108000.3101%9.2780000000100001998-2000Poland200049002.8386%8.4118000000100
2001-2003Malta2003107000.3130%9.2686000000100002001-2003Poland200352001.9808%8.4970000000100
2004-2006Malta2006113001.8186%9.2780000000100002004-2006Poland200660002.9004%8.6125000000100
2007-2009Malta200911500-0.2886%9.3588000000100002007-2009Poland20096915.62.5827%8.7641000000100
1995-1997Poland199742004.2251%8.2161000000010001995-1997Slovenia199795002.9323%9.0711000000010
1998-2000Poland200049002.8386%8.4118000000010001998-2000Slovenia2000108003.2388%9.1901000000010
2001-2003Poland200352001.9808%8.4970000000010002001-2003Slovenia2003118002.0385%9.3147000000010
2004-2006Poland200660002.9004%8.6125000000010002004-2006Slovenia2006135003.1030%9.4174000000010
2007-2009Poland20096915.62.5827%8.7641000000010002007-2009Slovenia200913600-1.9053%9.5750000000010
1995-1997Romania19971899.2642-0.6984%7.5702000000001001995-1997Slovakia199739003.6071%8.1605000000001
1998-2000Romania20001800-0.2265%7.5023000000001001998-2000Slovakia200041000.8231%8.2940000000001
2001-2003Romania200322004.8868%7.5496000000001002001-2003Slovakia200346003.0324%8.3428000000001
2004-2006Romania200627003.9261%7.7832000000001002004-2006Slovakia200656004.4510%8.4970000000001
2007-2009Romania20092890.7693-0.1063%7.9725000000001002007-2009Slovakia200963000.5333%8.7323000000001
1995-1997Slovenia199795002.9323%9.071100000000010
1998-2000Slovenia2000108003.2388%9.190100000000010
2001-2003Slovenia2003118002.0385%9.314700000000010
2004-2006Slovenia2006135003.1030%9.417400000000010
2007-2009Slovenia200913600-1.9053%9.575000000000010
1995-1997Slovakia199739003.6071%8.160500000000001
1998-2000Slovakia200041000.8231%8.294000000000001
2001-2003Slovakia200346003.0324%8.342800000000001
2004-2006Slovakia200656004.4510%8.497000000000001
2007-2009Slovakia200963000.5333%8.732300000000001
PANEL INT5 FIX2
Fixed effects 2 ways
ALL
PerioadaTARAANULREAL GDP/capitaDIF LN/3ln Y0D2D3D4D5D6D7D8D9D10D11D12D2lnYoD3lnYoD4lnYoD5lnYoD6lnYoD7lnYoD8lnYoD9lnYoD10lnYoD11lnYoD12lnYo
1995-1997Bulgaria19971500-4.1721%7.4384000000000000.00.00.00.00.00.00.00.00.00.00.0
1998-2000Bulgaria200017004.1721%7.3132000000000000.00.00.00.00.00.00.00.00.00.00.0
2001-2003Bulgaria200320003.5120%7.4955000000000000.00.00.00.00.00.00.00.00.00.00.0
2004-2006Bulgaria200625004.2611%7.6962000000000000.00.00.00.00.00.00.00.00.00.00.0
2007-2009Bulgaria200926600.7605%7.8633000000000000.00.00.00.00.00.00.00.00.00.00.0
1995-1997Czech Republic199757001.1906%8.6125100000000008.61250.00.00.00.00.00.00.00.00.00.0
1998-2000Czech Republic200060001.7098%8.6482100000000008.64820.00.00.00.00.00.00.00.00.00.0
2001-2003Czech Republic200365001.5751%8.7323100000000008.73230.00.00.00.00.00.00.00.00.00.0
2004-2006Czech Republic200677004.1433%8.8247100000000008.82470.00.00.00.00.00.00.00.00.00.0
2007-2009Czech Republic20097855.6-1.0212%8.9996100000000008.99960.00.00.00.00.00.00.00.00.00.0
1995-1997Estonia199737005.8977%8.0392010000000000.08.03920.00.00.00.00.00.00.00.00.0
1998-2000Estonia200045003.9261%8.2940010000000000.08.29400.00.00.00.00.00.00.00.00.0
2001-2003Estonia200357005.7283%8.4764010000000000.08.47640.00.00.00.00.00.00.00.00.0
2004-2006Estonia200674006.4397%8.7160010000000000.08.71600.00.00.00.00.00.00.00.00.0
2007-2009Estonia20096600-5.9931%8.9746010000000000.08.97460.00.00.00.00.00.00.00.00.0
1995-1997Cyprus1997130000.2574%9.4650001000000000.00.09.46500.00.00.00.00.00.00.00.0
1998-2000Cyprus2000145002.3820%9.5104001000000000.00.09.51040.00.00.00.00.00.00.00.0
2001-2003Cyprus2003151000.4445%9.6091001000000000.00.09.60910.00.00.00.00.00.00.00.0
2004-2006Cyprus2006159001.0651%9.6421001000000000.00.09.64210.00.00.00.00.00.00.00.0
2007-2009Cyprus200916612.70.2269%9.7111001000000000.00.09.71110.00.00.00.00.00.00.00.0
1995-1997Latvia199730004.7700%7.8633000100000000.00.00.07.86330.00.00.00.00.00.00.0
1998-2000Latvia200036003.9261%8.0709000100000000.00.00.08.07090.00.00.00.00.00.00.0
2001-2003Latvia200345004.7700%8.2687000100000000.00.00.08.26870.00.00.00.00.00.00.0
2004-2006Latvia200662007.8438%8.4970000100000000.00.00.08.49700.00.00.00.00.00.00.0
2007-2009Latvia20095400-7.6841%8.8247000100000000.00.00.08.82470.00.00.00.00.00.00.0
1995-1997Lithuania199731004.6050%7.9010000010000000.00.00.00.07.90100.00.00.00.00.00.0
1998-2000Lithuania200035000.9663%8.1315000010000000.00.00.00.08.13150.00.00.00.00.00.0
2001-2003Lithuania200345005.6359%8.2428000010000000.00.00.00.08.24280.00.00.00.00.00.0
2004-2006Lithuania200657005.0410%8.4970000010000000.00.00.00.08.49700.00.00.00.00.00.0
2007-2009Lithuania20095600-3.9261%8.7483000010000000.00.00.00.08.74830.00.00.00.00.00.0
1995-1997Hungary199743001.5876%8.3187000001000000.00.00.00.00.08.31870.00.00.00.00.0
1998-2000Hungary200050002.7794%8.4338000001000000.00.00.00.00.08.43380.00.00.00.00.0
2001-2003Hungary200357003.0603%8.5564000001000000.00.00.00.00.08.55640.00.00.00.00.0
2004-2006Hungary200665002.6681%8.6995000001000000.00.00.00.00.08.69950.00.00.00.00.0
2007-2009Hungary20096200-2.0840%8.7948000001000000.00.00.00.00.08.79480.00.00.00.00.0
1995-1997Malta1997107000.00%9.2780000000100000.00.00.00.00.00.09.27800.00.00.00.0
1998-2000Malta2000108000.3101%9.2780000000100000.00.00.00.00.00.09.27800.00.00.00.0
2001-2003Malta2003107000.3130%9.2686000000100000.00.00.00.00.00.09.26860.00.00.00.0
2004-2006Malta2006113001.8186%9.2780000000100000.00.00.00.00.00.09.27800.00.00.00.0
2007-2009Malta200911500-0.2886%9.3588000000100000.00.00.00.00.00.09.35880.00.00.00.0
1995-1997Poland199742004.2251%8.2161000000010000.00.00.00.00.00.00.08.21610.00.00.0
1998-2000Poland200049002.8386%8.4118000000010000.00.00.00.00.00.00.08.41180.00.00.0
2001-2003Poland200352001.9808%8.4970000000010000.00.00.00.00.00.00.08.49700.00.00.0
2004-2006Poland200660002.9004%8.6125000000010000.00.00.00.00.00.00.08.61250.00.00.0
2007-2009Poland20096915.62.5827%8.7641000000010000.00.00.00.00.00.00.08.76410.00.00.0
1995-1997Romania19971899.2642-0.6984%7.5702000000001000.00.00.00.00.00.00.00.07.57020.00.0
1998-2000Romania20001800-0.2265%7.5023000000001000.00.00.00.00.00.00.00.07.50230.00.0
2001-2003Romania200322004.8868%7.5496000000001000.00.00.00.00.00.00.00.07.54960.00.0
2004-2006Romania200627003.9261%7.7832000000001000.00.00.00.00.00.00.00.07.78320.00.0
2007-2009Romania20092890.7693-0.1063%7.9725000000001000.00.00.00.00.00.00.00.07.97250.00.0
1995-1997Slovenia199795002.9323%9.0711000000000100.00.00.00.00.00.00.00.00.09.07110.0
1998-2000Slovenia2000108003.2388%9.1901000000000100.00.00.00.00.00.00.00.00.09.19010.0
2001-2003Slovenia2003118002.0385%9.3147000000000100.00.00.00.00.00.00.00.00.09.31470.0
2004-2006Slovenia2006135003.1030%9.4174000000000100.00.00.00.00.00.00.00.00.09.41740.0
2007-2009Slovenia200913600-1.9053%9.5750000000000100.00.00.00.00.00.00.00.00.09.57500.0
1995-1997Slovakia199739003.6071%8.1605000000000010.00.00.00.00.00.00.00.00.00.08.1605
1998-2000Slovakia200041000.8231%8.2940000000000010.00.00.00.00.00.00.00.00.00.08.2940
2001-2003Slovakia200346003.0324%8.3428000000000010.00.00.00.00.00.00.00.00.00.08.3428
2004-2006Slovakia200656004.4510%8.4970000000000010.00.00.00.00.00.00.00.00.00.08.4970
2007-2009Slovakia200963000.5333%8.7323000000000010.00.00.00.00.00.00.00.00.00.08.7323
FIX 2 rezultat slope doar
Fixed effects 2 waysdoar slope, intercept nu pot pentru ca in excel la regression ai maxim 16 exogeneSUMMARY OUTPUT
ALL
PerioadaTARAANULREAL GDP/capitaDIF LN/3ln Y0D2lnYoD3lnYoD4lnYoD5lnYoD6lnYoD7lnYoD8lnYoD9lnYoD10lnYoD11lnYoD12lnYoRegression Statistics
1995-1997Bulgaria19971500-4.1721%7.43840.00.00.00.00.00.00.00.00.00.00.0Multiple R0.5488301109
1998-2000Bulgaria200017004.1721%7.31320.00.00.00.00.00.00.00.00.00.00.0R Square0.3012144907
2001-2003Bulgaria200320003.5120%7.49550.00.00.00.00.00.00.00.00.00.00.0Adjusted R Square0.1228011692
2004-2006Bulgaria200625004.2611%7.69620.00.00.00.00.00.00.00.00.00.00.0Standard Error0.0274352546
2007-2009Bulgaria200926600.7605%7.86330.00.00.00.00.00.00.00.00.00.00.0Observations60
1995-1997Czech Republic199757001.1906%8.61258.61250.00.00.00.00.00.00.00.00.00.0
1998-2000Czech Republic200060001.7098%8.64828.64820.00.00.00.00.00.00.00.00.00.0ANOVA
2001-2003Czech Republic200365001.5751%8.73238.73230.00.00.00.00.00.00.00.00.00.0dfSSMSFSignificance F
2004-2006Czech Republic200677004.1433%8.82478.82470.00.00.00.00.00.00.00.00.00.0Regression120.01524922660.00127076891.68829596410.1001530818
2007-2009Czech Republic20097855.6-1.0212%8.99968.99960.00.00.00.00.00.00.00.00.00.0Residual470.03537658010.0007526932
1995-1997Estonia199737005.8977%8.03920.08.03920.00.00.00.00.00.00.00.00.0Total590.0506258067
1998-2000Estonia200045003.9261%8.29400.08.29400.00.00.00.00.00.00.00.00.0
2001-2003Estonia200357005.7283%8.47640.08.47640.00.00.00.00.00.00.00.00.0CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%
2004-2006Estonia200674006.4397%8.71600.08.71600.00.00.00.00.00.00.00.00.0betarealIntercept0.57323713650.14035637484.08415461910.00020.29087653570.85559773740.29087653570.8555977374
2007-2009Estonia20096600-5.9931%8.97460.08.97460.00.00.00.00.00.00.00.00.07.66%-0.0735038184D1X Variable 1-0.07350381840.0186208401-3.9473953950.0003-0.1109641161-0.0360435206-0.1109641161-0.0360435206
1995-1997Cyprus1997130000.2574%9.46500.00.09.46500.00.00.00.00.00.00.00.06.28%-0.0636730085D2lnYoX Variable 20.00983080990.00332150152.95974873820.00480.00314881090.0165128090.00314881090.016512809
1998-2000Cyprus2000145002.3820%9.51040.00.09.51040.00.00.00.00.00.00.00.05.63%-0.0637234952D3lnYoX Variable 30.00978032320.00299372183.26694454780.00200.00375773180.01580291450.00375773180.0158029145
2001-2003Cyprus2003151000.4445%9.60910.00.09.60910.00.00.00.00.00.00.00.05.91%-0.0588744153D4lnYoX Variable 40.01462940310.00442398533.30683808080.00180.00572949280.02352931350.00572949280.0235293135
2004-2006Cyprus2006159001.0651%9.64210.00.09.64210.00.00.00.00.00.00.00.06.90%-0.0658008114D5lnYoX Variable 50.0077030070.00276089642.79003836530.00760.00214879990.01325721410.00214879990.0132572141
2007-2009Cyprus200916612.70.2269%9.71110.00.09.71110.00.00.00.00.00.00.00.06.80%-0.0660713461D6lnYoX Variable 60.00743247230.00275635632.69648453890.00970.00188739860.01297754590.00188739860.0129775459
1995-1997Latvia199730004.7700%7.86330.00.00.07.86330.00.00.00.00.00.00.06.11%-0.0650873658D7lnYoX Variable 70.00841645260.00305865322.75168579690.00840.00226323610.01456966910.00226323610.0145696691
1998-2000Latvia200036003.9261%8.07090.00.00.08.07090.00.00.00.00.00.00.05.98%-0.0612267641D8lnYoX Variable 80.01227705430.00403074743.04585059620.00380.00416823660.02038587190.00416823660.0203858719
2001-2003Latvia200345004.7700%8.26870.00.00.08.26870.00.00.00.00.00.00.07.58%-0.0640014606D9lnYoX Variable 90.00950235780.00298319473.18529591550.00260.00350094430.01550377130.00350094430.0155037713
2004-2006Latvia200662007.8438%8.49700.00.00.08.49700.00.00.00.00.00.00.06.94%-0.0726209153D10lnYoX Variable 100.00088290310.00229346720.38496433620.7020-0.00373095770.0054967638-0.00373095770.0054967638
2007-2009Latvia20095400-7.6841%8.82470.00.00.08.82470.00.00.00.00.00.00.05.92%-0.0595365616D11lnYoX Variable 110.01396725680.00406376033.43702770820.00120.00579202570.0221424880.00579202570.022142488
1995-1997Lithuania199731004.6050%7.90100.00.00.00.07.90100.00.00.00.00.00.07.89%-0.0652185814D12lnYoX Variable 120.0082852370.00286754292.88931582510.00580.00251648490.01405398910.00251648490.0140539891
1998-2000Lithuania200035000.9663%8.13150.00.00.00.08.13150.00.00.00.00.00.0
2001-2003Lithuania200345005.6359%8.24280.00.00.00.08.24280.00.00.00.00.00.0C0.573767realIndividual betatara
2004-2006Lithuania200657005.0410%8.49700.00.00.00.08.49700.00.00.00.00.00.0LN_GDP0-0.073575-0.07357515.11%Bulgaria
2007-2009Lithuania20095600-3.9261%8.74830.00.00.00.08.74830.00.00.00.00.00.0GDP_D20.009842-0.06373320.82%Czech Republic
1995-1997Hungary199743001.5876%8.31870.00.00.00.00.08.31870.00.00.00.00.0GDP_D30.009792-0.06378320.94%Estonia
1998-2000Hungary200050002.7794%8.43380.00.00.00.00.08.43380.00.00.00.00.0GDP_D40.014646-0.05892914.36%Cyprus
2001-2003Hungary200357003.0603%8.55640.00.00.00.00.08.55640.00.00.00.00.0GDP_D50.007711-0.06586429.46%Latvia
2004-2006Hungary200665002.6681%8.69950.00.00.00.00.08.69950.00.00.00.00.0GDP_D60.007442-0.06613332.18%Lithuania
2007-2009Hungary20096200-2.0840%8.79480.00.00.00.00.08.79480.00.00.00.00.0GDP_D70.008428-0.06514725.21%Hungary
1995-1997Malta1997107000.00%9.27800.00.00.00.00.00.09.27800.00.00.00.0GDP_D80.012429-0.06114616.61%Malta
1998-2000Malta2000108000.3101%9.27800.00.00.00.00.00.09.27800.00.00.00.0GDP_D90.009512-0.06406321.62%Poland
2001-2003Malta2003107000.3130%9.26860.00.00.00.00.00.09.26860.00.00.00.0GDP_D100.000884-0.07269116.03%Romania
2004-2006Malta2006113001.8186%9.27800.00.00.00.00.00.09.27800.00.00.00.0GDP_D110.01398-0.05959514.96%Slovenia
2007-2009Malta200911500-0.2886%9.35880.00.00.00.00.00.09.35880.00.00.00.0GDP_D120.008291-0.06528425.84%Slovakia
1995-1997Poland199742004.2251%8.21610.00.00.00.00.00.00.08.21610.00.00.0
1998-2000Poland200049002.8386%8.41180.00.00.00.00.00.00.08.41180.00.00.0
2001-2003Poland200352001.9808%8.49700.00.00.00.00.00.00.08.49700.00.00.0
2004-2006Poland200660002.9004%8.61250.00.00.00.00.00.00.08.61250.00.00.0
2007-2009Poland20096915.62.5827%8.76410.00.00.00.00.00.00.08.76410.00.00.0
1995-1997Romania19971899.2642-0.6984%7.57020.00.00.00.00.00.00.00.07.57020.00.0
1998-2000Romania20001800-0.2265%7.50230.00.00.00.00.00.00.00.07.50230.00.0
2001-2003Romania200322004.8868%7.54960.00.00.00.00.00.00.00.07.54960.00.0
2004-2006Romania200627003.9261%7.78320.00.00.00.00.00.00.00.07.78320.00.0
2007-2009Romania20092890.7693-0.1063%7.97250.00.00.00.00.00.00.00.07.97250.00.0
1995-1997Slovenia199795002.9323%9.07110.00.00.00.00.00.00.00.00.09.07110.0
1998-2000Slovenia2000108003.2388%9.19010.00.00.00.00.00.00.00.00.09.19010.0
2001-2003Slovenia2003118002.0385%9.31470.00.00.00.00.00.00.00.00.09.31470.0
2004-2006Slovenia2006135003.1030%9.41740.00.00.00.00.00.00.00.00.09.41740.0
2007-2009Slovenia200913600-1.9053%9.57500.00.00.00.00.00.00.00.00.09.57500.0
1995-1997Slovakia199739003.6071%8.16050.00.00.00.00.00.00.00.00.00.08.1605
1998-2000Slovakia200041000.8231%8.29400.00.00.00.00.00.00.00.00.00.08.2940
2001-2003Slovakia200346003.0324%8.34280.00.00.00.00.00.00.00.00.00.08.3428
2004-2006Slovakia200656004.4510%8.49700.00.00.00.00.00.00.00.00.00.08.4970
2007-2009Slovakia200963000.5333%8.73230.00.00.00.00.00.00.00.00.00.08.7323
FIX 2 rezultat slope doar
0
0
0
0
0
0
0
0
0
0
0
0
viteza convergenta
YearEuropean Union (15 countries)BulgariaCzech RepublicEstoniaCyprusLatviaLithuaniaHungaryMaltaPolandRomaniaSloveniaSlovakia
199520400170055003100129002600270041001070037001,939.4887003500
199620700150058003300129002800290041001080040002,015.1290003700
199721200150057003700130003000310043001070042001,899.2695003900
199821800150057004000135003200340046001070045001,812.2898004000
199922400160058004100140003300340048001080047001,775.00104004000
200023200170060004500145003600350050001080049001,800.00108004100
200123500180062004800149003900380052001060049001,900.00111004200
200223700190063005300151004200410055001080050002,100.00115004400
200323800200065005700151004500450057001070052002,200.00118004600
200424200220068006100154004900490060001070055002,400.00123004900
200524500230072006700156005500530063001100057002,500.00128005200
200625100250077007400159006200570065001130060002,700.00135005600
200725600260081007900165006800630066001160064002,900.00144006200
200825600280082007600169006500650066001180068003,111.70149006600
20092440026607855.6660016612.7540056006200115006915.62,890.77136006300
YearEuropean Union (15 countries)BulgariaCzech RepublicEstoniaCyprusLatviaLithuaniaHungaryMaltaPolandRomaniaSloveniaSlovakia
1995100%8.33%26.96%15.20%63.24%12.75%13.24%20.10%52.45%18.14%9.51%42.65%17.16%
1996100%7.25%28.02%15.94%62.32%13.53%14.01%19.81%52.17%19.32%9.73%43.48%17.87%
1997100%7.08%26.89%17.45%61.32%14.15%14.62%20.28%50.47%19.81%8.96%44.81%18.40%
1998100%6.88%26.15%18.35%61.93%14.68%15.60%21.10%49.08%20.64%8.31%44.95%18.35%
1999100%7.14%25.89%18.30%62.50%14.73%15.18%21.43%48.21%20.98%7.92%46.43%17.86%
2000100%7.33%25.86%19.40%62.50%15.52%15.09%21.55%46.55%21.12%7.76%46.55%17.67%
2001100%7.66%26.38%20.43%63.40%16.60%16.17%22.13%45.11%20.85%8.09%47.23%17.87%
2002100%8.02%26.58%22.36%63.71%17.72%17.30%23.21%45.57%21.10%8.86%48.52%18.57%
2003100%8.40%27.31%23.95%63.45%18.91%18.91%23.95%44.96%21.85%9.24%49.58%19.33%
2004100%9.09%28.10%25.21%63.64%20.25%20.25%24.79%44.21%22.73%9.92%50.83%20.25%
2005100%9.39%29.39%27.35%63.67%22.45%21.63%25.71%44.90%23.27%10.20%52.24%21.22%
2006100%9.96%30.68%29.48%63.35%24.70%22.71%25.90%45.02%23.90%10.76%53.78%22.31%
2007100%10.16%31.64%30.86%64.45%26.56%24.61%25.78%45.31%25.00%11.33%56.25%24.22%
2008100%10.94%32.03%29.69%66.02%25.39%25.39%25.78%46.09%26.56%12.16%58.20%25.78%
2009100%10.90%32.20%27.05%68.08%22.13%22.95%25.41%47.13%28.34%11.85%55.74%25.82%
Gap reduction 1995-20092.57%5.23%11.85%4.85%9.39%9.72%5.31%-5.32%10.21%2.34%13.09%8.66%
GAMA
ANULREAL GDP/capitaAVERAGECANULDISPERIA
19951,700.005094.95663427980.444019950.4763953644
19955,500.005094.95663427980.006319960.452627292
19953,100.005094.95663427980.153319970.4299290138
199512,900.005094.95663427982.346819980.4182974705
19952,600.005094.95663427980.239819990.4262347156
19952,700.005094.95663427980.221020000.4130318142
19954,100.005094.95663427980.038120010.3942217317
199510,700.005094.95663427981.210320020.3676400686
19953,700.005094.95663427980.075020030.3368688385
19951,939.485094.95663427980.383620040.3090064254
19958,700.005094.95663427980.500720050.2853217432
19953,500.005094.95663427980.098020060.261992513
19961,500.005234.593276350.509020070.2503113647
19965,800.005234.593276350.011720080.2505612074
19963,300.005234.593276350.136620090.2727879713
199612,900.005234.593276352.1444
19962,800.005234.593276350.2163
19962,900.005234.593276350.1989
19964,100.005234.593276350.0470
199610,800.005234.593276351.1304
19964,000.005234.593276350.0556
19962,015.125234.593276350.3783
19969,000.005234.593276350.5174DE ELIMINAT ROMANIA SI BULGARIA SI VERIFICAT CE SE INTAMPLA CU EVOLUTIA DISPERIEI FARA ELE
19963,700.005234.593276350.0859
19971,500.005374.93868333330.5197To test s-convergence we analysed income dispersion by estimating the trend line of standard deviation of log GDP per capita [Matkowski Z, Prochniak M, pag 16, 2_50]
19975,700.005374.93868333330.0037
19973,700.005374.93868333330.0971
199713,000.005374.93868333332.0125
19973,000.005374.93868333330.1952
19973,100.005374.93868333330.1791
19974,300.005374.93868333330.0400
199710,700.005374.93868333330.9815
19974,200.005374.93868333330.0478
19971,899.265374.93868333330.4181
19979,500.005374.93868333330.5890
19973,900.005374.93868333330.0753
19981,500.005559.356250.5332
19985,700.005559.356250.0006
19984,000.005559.356250.0787
199813,500.005559.356252.0402
19983,200.005559.356250.1801