Real Convergence of Economies and their Disruption of Economic Crisis

The bachelor thesis examines the impact of the economic crisis on the real convergence of the Czech Republic and the other states of the Visegrad Group towards the states of the European Union. The beta and sigma convergence methods were used to determine whether real convergence was taking place. For these purposes, three models were created, all EU members without the excluded Ireland and Luxembourg due to their extreme values (EU-26), the Czech Republic and the original EU member (EU-13) and the Visegrad Group and EU-13. Each model was further divided into pre-crisis and post-crisis periods. In the pre-crisis period beta-convergence was demonstrated in the EU-26 group, V4 and EU-13 group and sigma-convergence was demonstrated in the EU-26 group. In all other cases, the result of the analysis was ambiguous. After the crisis, the results of the analyses in all groups were ambiguous