Real Convergence of Economies and their Disruption of Economic Crisis

This thesis analyzes the process of real convergence of the Czech Republic and the selected new European Union members towards the EU-27. The convergence was measured by the copmparison of real GDP per capita in Purchasing Parity Standard units in each country. The real convergence was tested through the concepts of beta convergence and sigma convergence. The analysis proved the real convergence of the Czech Republic and other EU countries towards the EU. That means the Czech Republic's economy level grows and comes nearer to the EU-27 average. It also proved that the convergence process was disrupted by the global economic crisis. The crisis negatively influenced the growth of real GDP per capita at all EU countries and made it slower after 2007