Convergence as Distribution Dynamics (with or without Growth)

Convergence concerns the poor catching up with the rich- if not instantaneously, then at least having a tendency to do so. When poor and rich refer here refer to entire economies then whether convergence occurs is traditionally viewed as just a side consequence of a more central question, namely that concerning the nature of economic growth. This paper argues instead that convergence itself is of direct interest. When convergence is made cental and thus investigated, new theoretical issues and empirical insights emerge: this paper provides a brief overview of what those lessons are, and conjectures what next might be learnt.