TY  - JOUR
AU  - Sachs,Jeffrey D.
AU  - Warner,Andrew M.
TI  - Economic Convergence and Economic Policies
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5039
PY  - 1995
Y2  - September 1995
UR  - http://www.nber.org/papers/w5039
L1  - http://www.nber.org/papers/w5039.pdf
N1  - Author contact info:
Jeffrey D. Sachs
The Earth Institute at Columbia University
314 Low Library
535 West 116th Street, MC 4327
New York, NY  10027
Tel: 212/854-8704
Fax: 212/854-8702
E-Mail: sachs@columbia.edu

Andrew Warner
Andrew M. Warner
Deputy Chief Economist
Millennium Challenge Corporation
1200 N. Hartford Street Apt 302
Arlington VA 22201
Tel: 202-521-3656
E-Mail: warneram@mcc.gov
M2  - featured in NBER digest on 1995-10-01
AB  - Many of the crucial debates in development economics are encapsulated in the question of economic convergence.  Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards?  Some recent research on endogenous growth has emphasized increasing returns as a possible reason not to expect convergence.  Other research has suggested that convergence may be achieved only after poor countries attain a threshold level of income or human capital.  This paper presents evidence that a sufficient condition for higher-than-average growth of poorer countries, and therefore convergence, is that poorer countries follow reasonably efficient economic policies, mainly open trade and protection of private property rights.
ER  -