According to convergence theory, countries that start out poor should initially grow _______ than countries that start out rich and will eventually _______.

Question

Quizplus · Accepted Answer

Convergence theory suggests that poorer economies will grow at a faster rate than richer economies and over time, their growth rates will converge, meaning they will slow to the same growth rate as the richer economies. This is based on the idea that poorer countries can adopt existing technologies and practices from richer countries, allowing for rapid initial growth.

According to Convergence Theory, Countries That Start Out Poor Should