forces that lead to convergence over time in levels of per capita income and product? After considering predictions of closed … convergence, but the findings can be reconciled quantitatively with neoclassical models only if diminishing returns to capital set …

Do poor economies grow faster than rich ones? This important economic question (which we call [beta]-convergence) is … of convergence in both countries: poor prefectures and states grow faster. We also find that there is intraregional as … well as interregional convergence. We analyze the cross sectional standard deviation across prefectures and states. We find …