Institutional convergence in Europe

This paper applies the statistical concepts of σ-convergence and unconditional β‑convergence to institutional development within several country groups hierarchized to the degree of European integration (e.g., euro area). Two sets of indicators are employed to measure institutional development: first, the Worldwide Governance Indicators, and second, the product market regulation indicator of the OECD and the Doing Business distance to frontier indicator of the World Bank. The authors can clearly confirm institutional β-convergence within the EU and its aspirants, which is mainly driven by the new Member States and acceding, candidate, and potential candidate countries. However, euro-area countries converge only in the area of product market and business regulation—not in the area of governance. In fact, the authors show evidence for β-divergence in rule of law within the first twelve euro-area members. Concerning σ-convergence, the results are less clear. Only the EU including the EU-aspirants reduced the cross-country variance in all aspects of institutional development.

本文将σ收敛（σ-convergence）与无条件β收敛（unconditional β-convergence）的统计概念，应用于按欧洲一体化程度分层划分的多组国家的制度发展研究中（例如欧元区）。本研究采用两套指标测度制度发展水平：其一为全球治理指标（Worldwide Governance Indicators），其二为经合组织（OECD）的产品市场管制指标，以及世界银行的营商环境前沿距离指标（Doing Business distance to frontier）。研究明确证实，欧盟及其候选国范围内存在制度β收敛现象，该收敛主要由新成员国、已准入候选国、候选国及潜在候选国驱动。但欧元区国家仅在产品市场与营商管制领域呈现收敛态势，在治理维度则未出现收敛；事实上，研究证实欧元区首批12个成员国的法治领域存在β发散现象。关于σ收敛，本次研究的结果尚不明确。仅包含欧盟候选国的欧盟整体，在制度发展的所有维度上均实现了跨国方差的缩减。