Former growth theories did not give a satisfactory answer to stimuli of economic growth and possibilities of sustainable growth. An important contribution to the economic growth theories was given by research in institutional economics. Today formal and informal institutions such as rule of law,...

The main objective of the research is to find, identify and explain main trends and factors of convergence or divergence between economies and to discuss its conseguences for global inequality and possible future inequality trends. On a dataset of HDP per capita in a group of 150 countries over...

This paper is focused on the main trends and factors of convergence or divergence between economies which influences significantly the frequently discussed global inequality. On a dataset of HDP per capita in a group of 150 countries over 30 years it is tested if there is any...