The Future of Economic Convergence
If developing economies are to continue to converge with their advanced counterparts, they will need to deploy new technologies relatively efficiently, taking into account the role of labor-market skills and regulations. This will not be easy, but it is possible – and, indeed, necessary.
WASHINGTON, DC – The world is now facing what observers are calling a “synchronized” growth upswing. What does this mean for the economic “convergence” of developed and developing countries, a topic that lost salience after the Great Recession began a decade ago?