Convergence and Human Capital: The Gap in Educational Attainment Between the Old and New EU Member States

Recently, a number of scholars have emphasized the prominent role of human capital accumulation as a driver of future income growth and convergence in Europe. This approach is based on endogenous theory of growth (Lucas, 1988; Romer, 1994). LeSage and Fischer (2008); Crespo Cuaresma, Doppelhofer, and Feldkircher (2012); and Crespo Cuaresma and Feldkircher (2012) they found evidence that human capital has significant impact on income convergence. We want to base our research on these findings. In our paper we will focus on human capital as a key driver of economic convergence in the EU. We will study educational attainment levels (tertiary education) in the EU countries because we want to find out whether there is a gap in human capital among the old and new EU member states which could slow down the process of economic convergence in the future.