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the seventies. World market conditions were blamed for the fact that the income gap between industrialised countries and …
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This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...
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this is the dominant role played by transactions involving manufactured goods in world trade. An additional factor is that …
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