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How sigma and beta convergences as methodologies to analyse whether countries converge.

How sigma and beta convergences as methodologies to analyse whether countries converge.

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In Economics, the convergence refers to a hypothesis that economies' with poorer per capita incomes are likely to grow at faster rates compared to the richer economies. Consequently, all economies eventually must converge in terms of per capita income. The two main concepts of convergence are sigma and beta. The sigma convergence is a trend in downward direction on the relative differences in per capita income. The beta convergence refers to negative influence on the initial per capita income level in a regression of growth

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