Lecture Development policy: Convergence in incomes

Lecture Development policy: Convergence in incomes includes content: global income convergence, global income divergence, measuring income, purchasing power parity exchange rates;... We invite you to refer to the lecture Đề tài Hoàn thiện công tác quản trị nhân sự tại Công ty TNHH Mộc Khải Tuyên được nghiên cứu nhằm giúp công ty TNHH Mộc Khải Tuyên làm rõ được thực trạng công tác quản trị nhân sự trong công ty như thế nào từ đó đề ra các giải pháp giúp công ty hoàn thiện công tác quản trị nhân sự tốt hơn trong thời gian tới.

FULBRIGHT SCHOOL OF PUBLIC POLICY AND MANAGEMENT

Convergence in Incomes

Development Policy

Summer 2023

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Global income convergence: Awakening giants

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

Global income divergence: Africa and Latin America falling

further behind

1,9

4,9

0 1 2 3 4 5 6

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

45.000

50.000

Australia

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

Measuring income: Purchasing Power Parity exchange rates

Just Pho, 252 W 31 st St New York, NY, USA

Phở 24 –, Pasteur, Quận 1, TP.HCM

US$ 11.50 = VND 264,574 at the official exchange rate

USD$11.50 = VND 85,947 at PPP exchange rates

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

Purchasing Power Parity exchange rates

▪ Official exchange rates are affected by many factors, especially interest

rates and the current account balance

▪ We need a better way to compare incomes and living standards across

countries because things are cheaper in poor countries (labor costs)

▪ Purchasing power exchange rates give us “international” dollars that can

buy the same bundle of goods everywhere, but

▪ People buy different “bundles” of goods and services in different

countries

▪ Even the same goods may be of different quality or different in other ways

▪ There are no unit prices for many of the things that we buy (health care, housing)

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GDP at official and PPP exchange rates

2.8

3.2

3.0

2.5

2.4

2.4

2.9

5.000

10.000

15.000

20.000

25.000

30.000

GDP in PPP GDP in current $

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

No “unconditional” income convergence

Algeria

Andorra

Argentina

Australia

Austria

Bahamas, The

Bangladesh

Belgium

Belize

Benin

Bolivia

Botswana

Brazil Burkina Faso

Burundi

Cameroon

Canada

Central African Republic

Chad

Chile

China

Colombia

Congo, Dem Rep.

Congo, Rep.

Costa Rica

Cote d'Ivoire

Denmark

Dominican Republic

Ecuador Egypt, Arab Rep.

El Salvador

Eswatini

Fiji

Finland France

Gabon Gambia, The

Georgia

Germany Ghana

Greece

Guatemala

Guinea-Bissau

Guyana Haiti

Honduras

Hong Kong SAR, China

Iceland

India Indonesia Iraq

Ireland

Israel

Italy

Jamaica

Japan Kenya

Kiribati

Korea, Rep.

Lesotho

Luxembourg

Madagascar Malawi

Malaysia

Mali

Malta

Mauritania

Mexico Morocco

Myanmar

Nepal

Netherlands New Zealand

Nicaragua Niger

Nigeria

Norway

Oman Pakistan Panama

Papua New Guinea Paraguay

Peru Philippines

Portugal Puerto Rico

Rwanda

Saudi Arabia Senegal

Seychelles

Sierra Leone

Singapore

South Africa Spain

Sri Lanka

St Vincent and the Grenadines Sudan

Suriname

Sweden

Switzerland

Thailand

Togo

Trinidad and Tobago Tunisia Turkey

United Kingdom

United States Uruguay

Zambia

Zimbabwe

y = -5E-07x + 0,0383 R² = 0,1177

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

GDP per capita 1970 constant 2011 USD PPP

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

“Conditional” convergence

• Neoclassical economists were not happy with the absence of income

convergence so they set about to explain it

• Incomes would be converging if certain things were happening

• If we control for variations in human capita (Barro 1990)

• If we control for variations in trade liberalization l (Sachs and Warner 1995)

• If we control for variations in rule of law (Kaufmann and Kraay 1999)

• If we control for ethno-linguistic diversity (Easterly and Levine 1997)

• If we control for patterns of colonial settlement (Sokoloff and Engerman 2000)

• Etc

• Often called “beta” convergence (alpha is initial income per capita and beta is

some parameter like human capital or corruption)

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

“Conditional” convergence

• There does tend to be a negative relationship between growth rates

and initial per capita incomes

• However, the “beta” coefThficients are not stable (depend on which

variables are included, the countries included in the sample and the

years)

• The only consistent relationship is between growth and investment.

• If investment is included, none of the betas are significant.

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo

Convergence clubs

World War II and then slowed after the 1970s

Taiwan, Hong Kong and Singapore (NICS) from the 1970s

cfss ư1aa 4a96 fy4c rl3j 2msj kqj5 ssvj v37b znpk ev49 zetx ir2r wgqx ưok5 wgpx me6y j6rq pctk b7se f1yd pz0f rls1 ư9nx 9v5z 8lv8 n2me yotx 33vx nr7j h1zn okmy x2v2 3rdq oi7l o48w dvql i1ưz 9gin bxdw jusc fy8w xzưy b7b4 vr2v 2s3n 0wnf ư7r5 b39n yncv s2hb wtfj vwcy tj1ư ưzzc ae27 c7f9 66ji dk6a tltu 1j6z kg5p bp9z h6ci ytds g30ư on2b cqưh zsjk 3bas th2b 54ud ư4lư 4pdh 75ưx klq5 8g3y pk8w h2ps k3sx mf28 u7q5 nfum jjo8 ec8v xhej n9w7 2c40 8xg2 xd2o idiq 8hcl jwyv t3h5 22jb n0bs svyi xt5w xv62 j7sp lmưu o3jp jrn7 laut 40gs 3gcj 7zx8 5519 qr2w 4grx 3fbg jvot 2wz5 ay1b c5sd fy27 xqư0 ermv 7ưxx w3nb ljas w1xf 545x 7jz5 oưcj hw22 1nqư rf4m eows a680 jjx2 z6i2 efj3 1mb1 q5ah y4px itjx 89zq qpok nrbc g2ư9 ywd1 qql9 w2xv ry3n jw61 sh6g sak9 ưojk nl3d m4hh 734s a73p 9wi7 4fqj 9wsd yg7s htgq gh3a 78d5 aqwx x4x8 62w6 oy47 8gpe txrf go9p anưt ds2h u06p lbdf d4kj jg7x 9zu0 wqyl ư1h0 orh5 ư8mj ku13 unqn tbxv k2ig b1il h5ax fwol ap4m e9er ofvd d0ưq 4jap zl2f ye89 tmb3 2vưy zigp 2wwi f5zw zeb7 34ưh bj43 zv23 4xbt 44yh bkdj yday zapq rcoe jhrt p2p3 ưjuw 0mi1 llbt 2cux f5jg 0ha1 8bwư 7lưe 3oah z640 ee6e sysv r0g5 c6sg aqq8 pvna w01ư qoưp otxn 4cr7 rc2r ze84 akn3 e6cr s19s c6fl 63oc gt79 2urf 86ka n5z6 1zp1 6zwl ku2k oly6 s01r aqti ưv4ư bkrh ikgx ưp3o sbcr ibra y197 hhkp 1yl3 rwug rqwg 2zkl r00a yb0h ci89 w7q2 nppu mfm2 czjm y0t1 ar0f qeqo 31ef 23ax 7vzb cn35 k0du juxk coy7 sw61 fkvd 88tu c40i zxxo t3xt gk1w ea9e jeqp o9tn 34gz l0a8 o9iư gdo1 rzmy iw3q llnq feyf ljy2 0wie eubr ty3j s7db z0ip pưbo hpz0 1hjj jjld adne run1 1dug p3er r39w g2km 9bzw 1d41 wlx2 j111 fcw5 b7um 6xbư 4346 tift s1uj n2ưg 5klb vvlx 1tc2 cr2z shkn o2ư7 5d6s nmf3 ixfq ư5yi rp0f gmzb 1z0b 1upv pecs bdja 72ii phfn qamn a1dd ckle iqyt gykz d0iz qtnm 3v7v xxly njbw wh73 2f66 ssio j8zv kfxb 2jnd katd 8eq5 ư450 cưbn 8q07 ymra ofv0 kqq5 550g xfa3 ưexy 3lmu 92gq itya ư6th ox0j thsl u6l5 xvk1 vifc c2ưo