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SCOPUS 학술저널

Convergence and Divergence of Economic Growth in a Two-Country Model without Externalities

Convergence and Divergence of Economic Growth in a Two-Country Model without Externalities

International convergence as well as divergence processes of economic growth are both observable trends in economic development. To explain long-run differences of per capita income growth rates across countries, recent studies in economic growth have incorporated economies of scale and externalities. This paper shows that convergence as well as divergence processes in an integrated world may also be explained without relating to any externalities. (JEL:F21, Q41)

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