Provided they have the same steady state,the tendency for poorer countries to grow faster than richer countries and thus to converge in income is called:
A) standard convergence.
B) dynamic convergence.
C) income convergence.
D) conditional convergence.

Question

Quizplus · Accepted Answer

The tendency for poorer countries to grow faster than richer countries and thus to converge in income is called conditional convergence. This is because it depends on other factors such as human capital, technology, and institutions.

Provided They Have the Same Steady State,the Tendency for Poorer