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The authors set out to determine if the convergence theory passes the test in 25 transition economies. On the basis of statistical data for the years 1991-2004, using an econometric model, they analyzed the influence of GDP per employee on the growth of labor productivity. They also considered other factors with an influence on the sustainable economic growth. Considering the significant heterogeneity...
The article discusses conditional 'beta'-convergence in 126 countries around the world in 1975-2003. The authors offer a theoretical model to explain the essence of convergence. Unlike in most empirical studies, the authors assume that convergence, or the relationship between the rate of economic growth and the initial level of GDP, is not constant but changes over time.The model was constructed on...
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