Difference between revisions of "Conditional convergence"
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Latest revision as of 17:29, 1 July 2020
Conditional convergence is the tendency of economies with different initial levels of income, but similar economic policies and institutions, to become more similar in income over time.
Definition
According to Macroeconomics by Mankiw (7th edition),
- Conditional convergence. The tendency of economies with different initial levels of income, but similar economic policies and institutions, to become more similar in income over time.
