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dc.contributor.advisorHultberg, Patrik T.
dc.contributor.authorNguyen, Hang T.
dc.description50 p.en_US
dc.description.abstractEconomic growth has been a concern of every country in the world. Even though each country has different economies with diverse levels of income and different resources, one main goal that every country tries to achieve is economic growth. The growth of a country is not only a concern to itself, but also to other countries. Since international trade, multinational business and foreign investment have become essential parts of the economy, each country plays a role in the overall welfare of the global economy. While the growth rate of a developed economy is pretty stable and often low, we have seen that many individuals are investing their money in developing economies with the expectation that the high growth rate of these economies will benefit them in the future. Developing economies are sometimes expected to grow faster than richer, fully developed economies because they have a lot of resources to be explored, developed and cultivated, thus the prospect of growth in the future. On the contrary, rich economies have already developed their use of resources to the maximum and have little space to improve. The concept of absolute convergence emerges to describe a situation when poor countries grow faster than richer countries. Absolute convergence is not a common phenomenon. For example, in 1990 the GOP per capita of Chile and Egypt were $6,584 and $3,237, respectively. However, Egypt did not grow faster than Chile. Over the next decade, the growth rate of Chile was 3.62%, while that of Egypt was only 2.75%. In 2010 we still see the huge GOP per capita discrepancy between Chile at $13,595 and Egypt at $5,543. So the growth rate does not depend solely on the initial level of income of a country (whether a country is poor or rich), but other factors also play a role. In this paper, we will explore the concept of conditional convergence to discuss the factors that contribute to the growth of a country.en_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.relation.ispartofseriesSenior Individualized Projects. Economics and Business.;
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleEconomic Growth: Concitional Convergence: A statistical analysis across regionsen_US
KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email to request access to this thesis.

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  • Economics and Business Senior Integrated Projects [1198]
    This collection includes Senior Integrated Projects (SIP's) completed in the Economics and Business Department. Abstracts are generally available to the public, but PDF files are available only to current Kalamazoo College students, faculty, and staff.

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