The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.

The authors try to test statistically whether the flow of resources between poor and rich countries has in fact conformed to the “1 per cent” target defined by the United Nations. Basis for testing several hypotheses are data published by the Development Assistance Committee (DAC) of the OECD.

This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...