ASSESSING THE NOMINAL AND REAL ECONOMIC CONVERGENCE – THE CASE OF ROMANIA
ASSESSING THE NOMINAL AND REAL ECONOMIC CONVERGENCE – THE CASE OF ROMANIA

Summary/Abstract: The study carries out a review of theoretical and methodological possibility to identify and build a minimal (consistent and complete) list of criteria for real economic convergence aimed at to assess the status of real economic convergence in the European Union. The essence of the study is to identify the necessary and sufficient predicates of macroeconomic indicators that allow us to qualify them as criteria for real economic convergence. In the end, some methodological issues are developed and applied. To be sure on the accuracy of research, the sufficient predicates are examined concerning their independence, consistency and completeness. Based on these predicates, thorough examinations of the correlation between the process of real convergence and the nominal convergence is carried out, pointing out some well known economic and financial effects. The last part of the study performs a short assessment of the state of the nominal and real economic convergence in the case of Romania, for years 2007 and 2008.

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