Convergence Economics: Unlocking Global Prosperity,a Deep Dive into Convergence Economics

By Fouad Sabry

What is Convergence Economics

The idea of convergence in economics is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies. In the Solow-Swan growth model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred to as “catch up” growth. As a result, all economies should eventually converge in terms of per capita income. Developing countries have the potential to grow at a faster rate than developed countries because diminishing returns are not as strong as in capital-rich countries. Furthermore, poorer countries can replicate the production methods, technologies, and institutions of developed countries.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Convergence (economics)

Chapter 2: Economic growth

Chapter 3: Environmental determinism

Chapter 4: Development economics

Chapter 5: Demographic transition

Chapter 6: Simon Kuznets

Chapter 7: Endogenous growth theory

Chapter 8: Productivity

Chapter 9: Malthusianism

Chapter 10: Overlapping generations model

Chapter 11: Heckscher-Ohlin model

Chapter 12: International economics

Chapter 13: Solow residual

Chapter 14: Solow-Swan model

Chapter 15: Stanley Engerman

Chapter 16: Flying geese paradigm

Chapter 17: Great Divergence

Chapter 18: Moses Abramovitz

Chapter 19: Kenneth Sokoloff

Chapter 20: Oded Galor

Chapter 21: Galor-Zeira model

(II) Answering the public top questions about convergence economics.

(III) Real world examples for the usage of convergence economics in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Convergence Economics.

• Language: English
• Publisher: One Billion Knowledgeable
• Release date: Mar 10, 2024

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