Economic convergence is an important topic in modern Macroeconomics. Economic convergence refers to the tendency of per capita income of countries (regions) to approach their steady-state value. Two types of convergence are identified in the literature: Conditional and Absolute Convergence. This...

Economic convergence is an important topic in modern Macroeconomics. Economic convergence refers to the tendency of per capita income of countries (regions) to approach their steady-state value. Two types of convergence are identified in the literature: Conditional and Absolute Convergence. This...