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Euro membership and gdp growth forecast
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Resumo(s)
A simple panel data growth regression is estimated in order to determine if euro area
membership permits GDP growth and if it promotes conditional convergence. Furthermore,
the model is also used to determine if a high level of government expenditure helps to further
growth. The study is carried out with a sample of OECD and European economies,
conditional on a number of control variables and tested in different scenarios. Results show us
that the euro area membership does not help forecast growth in any scenario except when
restricted for non-founding members.
Descrição
Palavras-chave
Econonomic growth Eurozone Euro Area Panel data Fixed effects Convergence