Method Matters: Essays on the Selected Econometric Techniques for Modelling of Economic Convergence

The paper deals with an application of econometric techniques for modelling of economic convergence. Economic convergence is understood as a process of decreasing of differences in the economic level and efficiency of individual countries, and therefore it serves as a starting point of the international comparison and important part of macroeconomic analyses as well. The main goal of the paper is to evaluate possible results of selected econometric techniques for modelling of economic convergence and to draw attention to some advantages and disadvantages of selected methods. The theoretical part of the paper is devoted to the methodological bases of the economic convergence, according to character of examined variables, macroeconomic theories and methodological framework for research. The empirical part is aimed at comparison of individual econometric techniques frequently used to measure economic convergence. The final part of the paper summarizes main advantages and disadvantages of selected econometric approaches that may lead to different results.