Mapping a New World OrderDOI: 10.4337/9781786436481.00007 View full text
Vladimir Popov, Jomo Kwame Sundaram

Abstract: Normally, the literature on convergence and divergence in the world economy looks at beta-convergence and sigma-convergence. The former (beta-convergence) focuses on the coefficient of per capita GDP in the regression equation for growth rates-if positive, it means poorer countries are growing more slowly than the rich, and divergence is taking place; a negative coefficient means that growth is higher in poorer countries, which are therefore converging with the rich countries. The latter (sigma-convergence) lo…

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