Abstract:

For a state to join the Eurozone, its economy must tend to synchronize with the economies of the Member States. The main question that arises is whether, after accession to the European Monetary Union, Member States' economies tend to converge or not. In the present paper we set out to analyze the convergence of GDP per capita within the Eurozone, to see if this indicator of real convergence tends towards convergence or not. In the analysis we use the Sigma convergence test to measure the degree of convergence. According to the results, we can observe the differences in GDP per capita level within the European Monetary Union.