The future of economic convergence
By: Dani Rodrik
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 17400; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17400.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The question addressed in this paper is whether the gap in performance between the developed and developing worlds can continue, and in particular, whether developing nations can sustain the rapid growth they have experienced of late.  The good news is that growth in the developing world should depend not on growth in the advanced economies themselves, but on the difference in the productivity levels of the two groups of countries - on the "convergence gap" - which remains quite large.  Yet much of this convergence potential is likely to go to waste.  Convergence is anything but automatic, and depends on sustaining rapid structural change in the direction of tradables such as manufacturing and modern services.  The policies that successful countries have used to achieve this are hard to emulate.  Moreover, these policies - such as currency undervaluation and industrial policies - will meet greater resistance on the part of industrial countries struggling with stagnant economies and high unemployment"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 12/1/2011.

Includes bibliographical references.

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