o:29373 GDP and beyond Prosperity convergence in the countries of Western and Eastern Europe en ABSTRACT: After Second World War (WWII) a true evolution in understanding of economic development happened, which affected the ways of measuring prosperity, i.e. perceiving changes in people’s welfare. Numerous indicators have been created, which go ‘beyond GDP’ and cover different aspects of development and wellbeing. The aim of this paper is to analyse prosperity convergence in 32 European countries with a composite indicator – Legatum Prosperity Index (LPI). LPI is more complete than other indicators used in convergence analysis and reflects multidimensional nature of modern development and prosperity. Our research of absolute beta convergence is based on cross-sectional and panel data. Results indicate the existence of convergence in the overall index and its constitutive parts – dimensions and pillars, with different convergence speed regarding LPI and its segments for the total sample of countries, as well as for the countries of Eastern and Western Europe. KEYWORDS: GDP, sustainable development, Legatum Prosperity Index, convergence, European countries 1552099 10.1556/032.2020.00033 1552101 0001-6373 2023-05-12T08:50:53.261Z 44 no 46 Mirjana Gligorić Matić Univerzitet u Beogradu Ekonomski fakultet 13833831 0000-0002-5443-3560 Biljana Jovanović Gavrilović Univerzitet u Beogradu Ekonomski fakultet person 12396391 0000-0001-8149-2497 Nenad Stanišić person application/pdf 920375 https://phaidrabg.bg.ac.rs/o:29373 no yes 1 70 92000001 11A03 Acta oeconomica 70 4 493 511 2020