The article dwells on three issues: (1) it documents the differences in per capita GDP levels as well as their growths rates during the second half of 20th century; (2) it provides analysis of convergence and divergence processes in the World economic development; (3) it contains a discussion on the main factors that cause the emergence of differences in economic development. The conducted review of theories and empirical findings reveals that contemporary theories and their models do not convincingly indicate the factors that are responsible for the differences in incomes. The data presented point to the fact that although, on the global scale, there is an observable tendency towards the increase in differences in incomes, but among the group of 70 high and middle income countries these differences ceased to grow.
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SYNAT - “Interdisciplinary System for Interactive Scientific and Scientific-Technical Information”.