Question: The Question is attached below, thank you so much for your help! Looking forward to your reply! Best 4. Thinking in terms of the Solow

The Question is attached below, thank you so much for your help! Looking forward to your reply! Best

4. Thinking in terms of the Solow Model, explain the concepts of unconditional and conditional convergence to explain convergence of GDPpc growth rates over time that are presented in Figures 1&2 below. Figure 1. Figure 2. Growth rate versus initial level of real per capita Growth rate versus initial level of real per capita for or 114 countries for 18 OECD countries 08 .045 - .06 - .040 - POR OIRE O .035 - SPA O .04 Oo O OLUX O O O .030 - GRE AUS O ITA CO ONOR Growth rate. 1960-2000 Growth rate of per capita GDP, 1960-2000 .02 - BEL RICE O FRAO O .025 - NETO SANOUS O O o .00 - ODEN O .020 - UK CO SWE og OOO -.02 .015 - OSWI O -.04 + .010+ 8 9 10 8.0 8.4 8.8 9.2 9.6 10.0 Log of per capita GDP in 1960 Log of per capita GDP in 1960

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