Output Convergence between Western Balkans and EU-15
This paper analyses the relative position of the Western Balkan countries (ex-Yugoslavia countries and Albania) in comparison to more advanced European economies in the context of possible further EU enlargement. First, the question of convergence between Western Balkan countries and the EU-15 is empirically estimated. The paper also discusses the evolution of the gap and the possible determinants that could act in the direction of its decrease. The main findings are that Western Balkan countries show no sign of convergence. Furthermore, the factors that should contribute to closing the gap are not widely featured in the analysed countries.