Convergence in Living Standards discussion
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Question Description

Please read Chapter 2.6 “Are Living Standards of Developing and Developed Nations Converging?” (p78-83) and discuss whether developing countries are catching up per capita GDP with developed countries. If you do not have the textbook, please go to JSTOR, find an academic article “A Contribution to the Empirics of Economic Growth” by Gregory Mankiw, David Romer, and David N. Weil (The Quarterly Journal of Economics, Vol. 107(2), 407-437, 1992) or “Unconditional Convergence in Manufacturing” by Dani Rodrik (The Quarterly Journal of Economics, Vol. 128(1), 165-204, 2013), and discuss the same question

Convergence in Living Standards discussion
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Running head: CONVERGENCE IN LIVING STANDARDS

Convergence in Living Standards
Student’s Name
Institutional Affiliation

1

CONVERGENCE IN LIVING STANDARDS

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Convergence in Living Standards
Introduction
Convergence is an economic hypothesis that argues that poorer countries economies’ per
capita tends to grow at higher rate than developed countries. Convergence issue is a prominent in
determining whether per capita variables tend to converge across economies. Thus, the economic
growth implies that living standards of the populations improve. This paper discusses whether
the living standards of the developing and developed countries are converging.
Arguments favoring Convergence
There are different economic arguments that suggest and demonstrate that developing
countries might have an advantage in realizing great achievement in worke...

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