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Development of Economics
To discuss the theory and empirical evidence that the gap between rich and poor countries converges we should define what are poor and rich countries? What causes the gap between countries? What are the main factors that will lead to convergence? Is the gap between poor and rich countries really converging?
Countries are classified on the bases of their degree of development and per capita income (total income added to the total output of a country divided by its population), which is a useful indicator of development.
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