The graph tells me that further analysis would be purposeless. For most countries, which entered EU in 2004 the fifth year in the union was the time of global crisis. Would have they been better without EU? Well, this is a topic for a deeper analysis.
What: The graph shows 3-year moving averages of annual GDP per capita growth, with value at year 0 (entering the EU) subtracted from all the data series for visual purposes. The “average” is a simple average of all growths without the topmost and downmost values. When: Years are different for each country depending on its date of joining the European Union. Where: Countries joined the EU in 2004 and later. Source: ES
At the first year seemed that inflation was higher with euro, this was the case for 5 countries out of 7, but after 3 years have passed – only 3 out of 7 had bigger price increase with euro during the whole period. Seems that inflation rise due to euro was a temporary one-time effect which later leveled out for at least half of the countries. In short, I’d say that Euro does not cause inflation in a significant way.
What: Consumer price growth in one, two and three years before the adoption of euro subtracted from consumer price growth in one, two and three years after the adoption of euro. The number on the graph shows how much faster prices grew with Euro than without. When: Years are different for each country depending on its date of joining the Eurozone. Where: Countries which joined the Eurozone later, not with the initial group Source: ES
Of course it’s North America. But here what’s interesting – seems like South Asia is as poor as Africa (which is unexpected to me), but it’s growing much faster, 6% a year, whereas Sub-Saharan Africa – only 3%.
What: GDP per capita and GDP per capita growth. When: 2017 Where: World regions according to WB Source: WB