the convergence hypothesis suggests

the convergence hypothesis, have attracted the attention of many economists, producing a massive literature, especially since the mid-1980s. The idea, how- ... After establishing convergence, he suggests, in the same vein as Abramovitz, that technology is a public good and its diffusion leads to catch-up and convergence. Growth spills over to

The hypothesis that per capita output converges across economies over time represents one of the oldest controversies in economics. This essay surveys the history and development of the hypothesis, focusing particularly on its vast literature since the mid-1980s. A summary of empirical analyses, econometric issues, and various tests of the convergence hypothesis are also presented. Moreover ...

Paul Johnson. The debate over catch-up growth—what economists have dubbed the convergence hypothesis—has a long history. The authors choose to focus on research published over the last 30 years. In this recent research, capital, technology, and productivity have been at the root of most understandings of economic growth and convergence.

The idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies. In the Solow-Swan 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 ...

The convergence hypothesis has been the subject of intense controversy in the past few years. The controversy has been largely empirical, focusing primarily on the validity of ... The conditional convergence hypothesis suggests that among countries that are similar in preferences, technologies, rates of population growth, government policy, etc ...

The sources of convergence Abramovitz and David (1996: 21) provide a succinct definition of the convergence hypothesis, " Under certain conditions, being behind gives a productivity laggard the ability to grow faster than the early leader. This is the main contention of the 'convergence hypothesis'.''.

As the second chapter suggests, economic inequality is generally on the rise. On the other hand, all main theories that concern economic divergence are burdened with their particular point of view. ... The element of difference in convergence hypothesis is the distance from the steady state, which is, in neoclassical sense, changing over time ...

conditional convergence hypothesis rather than to the absolute one, and thus rejection of the absolute convergence hypothesis naturally does not imply rejection of the neoclassical growth model. The conditional convergence hypothesis suggests that among countries that are similar in preferences, technologies, rates of population growth, government

convergence hypothesis. Quick Reference. The theory that socialism and capitalism will, over time, become increasingly alike in economic and social terms. Convergence theory was popular in the 1950s and 1960s, when Raymond Aron, John ... From: convergence hypothesis in Dictionary of the Social Sciences ».

The convergence hypothesis is often taken to be the proposition that per capita incomes in different countries are somehow getting closer to each other, but it is more precisely understood as the proposition that the long-run cross-country distribution of per capita income is independent of initial conditions.

Convergence theory is an economic theory that presupposes that the concept of development is. defined by economic growth. It frames convergence with supposedly "developed" nations as a goal of so-called "undeveloped" or "developing" nations, and in doing so, fails to account for the numerous negative outcomes that often follow this economically ...

Let us make an in-depth study of the Convergence Hypothesis. After reading this article you will learn about: 1. Types of Convergence 2. Possible Paths of Convergence. Types of Convergence: There are three types of convergence unconditional convergence, conditional conver­gence and no convergence. (i) Unconditional Convergence: By unconditional convergence we mean that LDCs will ultimately ...

Abstract. This paper provides a framework for understanding the cross-section and time series approaches which have been used to test the convergence hypothesis. First, we present two definitions of convergence which capture the implications of the neo-classical growth model for the relationship between current and future cross-country output ...

Convergence theory is the idea that as rich countries got richer, they developed similar economic, political, and social structures and to some extent common values and beliefs. The driving force that moves modern societies toward common structures and cultures is continuing industrialization. ... All of this suggests that vigorous ...

In the 1950's and 1960's, convergence theory was most closely related to modernization theory. This theory states that as nations develop, they will take a path to industrialization similar to the ...

The convergence hypothesis stems from the notion of diminishing returns. If the accumulation of factors such as physical capital or knowledge is subject to diminishing returns, then richer countries with their abundance in capital would accumulate them at a slower rate and grow more slowly relative to poorer countries.

The hypothesis that per capita output converges across economies over time represents one of the oldest controversies in economics. This essay surveys the history and development of the hypothesis, focusing particularly on its vast literature since the mid-1980s. A summary of empirical analyses, econometric issues, and various tests of the convergence hypothesis are also presented.

We test the convergence hypothesis in two directions: the level and trend of convergence, and its possible determination by means of structural or economic globalization, measured in terms of exchanges density and economic values, respectively. ... Hypothesis H2c suggests that the import CD and export CD are close to one another.

strongly suggests case (d) as being of interest. This paper first shows, in Section II, that the widely-used initial level ... Galton'sfallacy and tests ofthe convergence hypothesis 431 cl, c2, c3, c4, wTrend 1.05v 1.00. --I--;- ;-.95-65 70 75 80 Fig 2. Income levels against time (time paths under hypothesized convergence).

CONVERGENCE THEORIESThe idea that societies move toward a condition of similarity—that they converge in one or more respects—is a common feature of various theories of social change. The notion that differences among societies will decrease over time can be found in many works of eighteenth and nineteenth century social thinkers, from the prerevolutionary French philosophes and the ...

The convergence hypothesis suggests that spouses and romantic partners tend to become more alike over time due to their shared environment, repeated interactions, and synchronized routines. For example, partners who often laugh and joke with each other, may experience less stress, which, over the years, may improve their health and social ...

We suggest that world-system theory provides a framework for explaining the simultaneous occurrence of both convergence and divergence. Specifically, the logic of world-system theory suggests that divergence occurs between the three zones of nations (core, semiperiphery, and periphery), whereas convergence occurs within them.

But if the convergence of military technology and its maintenance and auxiliary equipment is of obvious relevance to economic systems, that of military doctrine and organization is not our subject. Still less is the convergence of para-military 'exports': training for guerrillas and terrorists, security systems for underdeveloped countries ...

A new explanation for the Wow! signal suggests it was a chance detection of a furious flare crashing into a hydrogen cloud. ... their hypothesis needs more astrophysical theory work to underpin it ...

But new evidence suggests the cloth was made around 2,000 years ago - the same period when he was said to have lived and died. Most estimates say Jesus was crucified in AD 33, based on the Julian calendar, Bible passages and gospels from the time - 1,991 years ago.

Robert F Kennedy Jr's running mate says he is considering joining forces with the Trump campaign, and accused the Democrats of trying to "sabotage" their own. On a podcast, Nicole Shanahan said ...

Human proteomic analysis suggests that OSER1 plays roles in oxidative stress response, cellular senescence, and reproduction, which is consistent with the data and suggests that OSER1 could play a ...