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The cluster analysis methods are used in order to perform a comparative studyof 15 EU countries in relation with the fluctuations of some basicmacroeconomic indicators. The statistical distances between countries arecalculated for various moving time windows, and the time variation of the meanstatistical distance is investigated. The decreasing of the mean statisticaldistance between EU countries is reflected in the correlated fluctuations ofthe basic ME indicators: GDP, GDP/capita, Consumption and Investments. Thisempirical evidence can be seen as an economic aspect of globalization. TheMoving Average Minimal Length Path (MAMLP) algorithm allows to search for acluster-like structures derived both from the hierarchical organization ofcountries and from their relative movement inside the hierarchy. It is foundthat the strongly correlated countries with respect to GDP fluctuations can bepartitioned into stable clusters. Some of the highly correlated countries, withrespect to GDP fluctuations, display strong correlations also in the FinalConsumption Expenditure, while others are strongly correlated in Gross CapitalFormation. On the other hand, one notices the similitude of the classificationsregarding GDP and Net Exports fluctuations as concerns the squared sum of thecorrelation coefficients (so called country sensitivity). The final structureproves to be robust against the constant size time window moving over thescanned time interval. The policy implications of the above empirical resultsconcern the economic clusters arising in the presence of Marshallianexternalities and the relationships between trade barriers, R&D incentives andgrowth that must be accounted in elaborating a cluster-promotion policy.

Convergence and Cluster Structures in EU Area according to Fluctuations in Macroeconomic Indices