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Q1. Using the Solow framework, explain the economic forces behind the convergence of output per person. Does convergence of output per person hold for countries
Q1.
Using the Solow framework, explain the economic forces behind the convergence
of output per person. Does convergence of
output per person hold for countries in the Organisation for Economic Co-operation
and Development (OECD)? What about Asian countries and African countries? What
might be the reasons why a particular group of countries fails to converge in output
per person?
[8 marks]
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