International data suggests that countries with different steady states will

Question

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International data shows that countries with different steady states may not converge. This is known as the conditional convergence hypothesis. This is because different countries may have different factors affecting their steady state, such as differences in technology, institutions, and human capital. These factors can influence the rates of growth and levels of output in each country, making it unlikely for all countries to converge to the same steady state.

International Data Suggests That Countries with Different Steady States Will