The paper examines the convergence properties of productivity in fifteen European countries over the period 1960 …-1997. Empirical tests are performed for the "Maastricht proposition," according to which nominal convergence in rates of inflation is … a prerequisite for real convergence. Modern econometric techniques for non-stationary time series, organized Around and …

probability of stalled convergence increases. On the other hand, with reforms to accelerate TFP growth and shift the economy away … from its continued reliance on capital accumulation, China can grow at a healthy pace and maintain its convergence toward … and sustain such a convergence toward the level of more prosperous economies. …