Question: Consider Figure 9-9, panel (b). Based on the data there, which regions support the convergence hypothesis? Which do not? Explain. FIGURE 9-9 Do Economies Converge?

Consider Figure 9-9, panel (b). Based on the data there, which regions support the convergence hypothesis? Which do not? Explain. FIGURE 9-9 Do Economies Converge? (b) But Not for the World as

FIGURE 9-9 Do Economies Converge? (b) But Not for the World as a Whole (a) Convergence among Wealthy Countries... Real GDP per capita annual growth rate 1955-2013 Real GDP per capita 5% annual growth rate 1955-2013 5% East Asia 4 4 Ireland Japan Australia 3 3 Spain Canada Eastern Wester West Europe Europe United Italy Asia States 2 2 Germany United Latin America France United States 1 1 Africa Kingdom 0 $4,000 8,000 12,000 0 $4,000 8,000 12,000 Real GDP per capita in 1955 (1990 dollars) Real GDP per capita in 1955 (1990 dollars) Sources: Angus Maddison, Statistics on World Population, GDP, and Per Capita GDP, 1-2008AD, http://www.ggdc.net/maddison; The Conference Board Total Economy Database", January 2014, http://www.conference-board.org/data/economydatabase.

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