National and Regional Convergence Outcomes of The Global Financial Crisis (2008): The Case of Türkiye and the EU

Authors : Ömer Diler, Yusuf Bayraktutan

Pages : 227-246

Doi:10.21076/vizyoner.1457502

View : 43 | Download : 25

Publication Date : 2025-02-28

Article Type : Research Paper

Abstract :According to the convergence hypothesis, units (country, region, sector, etc.) with relatively lower incomes would converge to those with higher incomes. Reducing regional development disparities has been a key priority of European integration. Before full membership, candidate countries are expected to converge as much as possible to the EU average in terms of certain economic indicators. Financial crisis affects the differences in the level of income between regions and countries. The global crisis, which started in the USA and spread to the EU and the world as of 2007, was effective on national and regional scales; produced results worth discussing in the context of convergence. In the study, the convergence relationship between Türkiye and the EU member countries and their selected regions during the global financial crisis is investigated to see whether the global financial crisis is an opportunity for convergence in the relatively low-income level-2 regions. 81 regions of the EU and Türkiye for the period of 2004 - 2017 is used. Findings indicate that, Türkiye converged to the EU during the crisis. 26 regions converged positively and 18 negatively; 21 diverged positively and 11 negatively; there was no significant change in the relative position of 5 regions.
Keywords : Yakınsama, AB, Ekonomik Kriz, Kalkınma

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