Small is beautiful and efficient

Is it really true that apart from China and India, there is little sign of convergence taking place /Jonathan Wheatley, FT, 17 July 2019/?

Fortunately, it is not the case for some emerging countries in the EU.

Since 2010, Hungary has been catching up with Old Europe. Between 2010 and 2018, the cumulative growth in GDP per capita in Hungary is 25% higher than the ClubMed countries’ average, nearly 20% higher than the figures of France, Austria, Sweden, Finland or Denmark and 12% higher than the German GDP figure.

All V4 countries have been on a successful convergence path since 2010. Small is beautiful and efficient.

Re “Falling further behind” 

Governor Matolcsy, MNB, the Central Bank of Hungary

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