Which of the following is/are correct statement(s) about economic growth around the world? Statement 1: Developing countries might be able to converge towards high income countries, as they can e.g. adopt new technologies of high-income countries. These flows might lead to higher rate of economic growth exceeding the growth rate of developed countries. However, the convergence process of lower income countries is not guaranteed. There are many factors leading to divergence: e.g. high level of debts and net lending. Statement 2: Convergence is especially found among homogenous groups of countries (e.g. EU regions, US States, Australian States, Japanese prefectures, Canadian provinces), while generally divergence can be measured among heterogeneous economies and among world economies on the whole. Points: 1 only statement 1 is correct only statement 2 is correct both statement 1 and 2 are correct neither statement 1 nor 2 are correct