Why do developed countries experience a degree of convergence over time? Would you expect there to be total convergence of GDP per head?
Answer to relevant QuestionsIf increased investment (using current technology) does not lead to increased long-run economic growth, does it bring any benefits?What determines the rate of growth in total factor productivity?Compare the relative merits of pro-market and interventionist solutions to regional decline.Look through the costs and benefits that we identified from the completion of the internal market. Do the same costs and benefits arise from the enlarged EU of 27 members?It is often argued that international convergence of economic indicators is a desirable objective. Does this mean that countries should all seek to achieve the same rate of economic growth, monetary growth, interest rates, ...
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