This comprehensive study is a collection of original articles that
view the current state of knowledge of the convergence hypothesis.
The hypothesis asserts that at least since the Second World War,
and perhaps for a considerable period before that, the group of
industrial countries was growing increasingly homogeneous in terms
of levels of productivity, technology and per capita incomes. In
addition, there was general catch up toward the leader, with
gradual erosion of the gap between the leader country, the U.S.,
throughout most of the pertinent period, and that of the countries
lagging most closely behind it.
The book examines patterns displayed by individual industries
within countries as well as the aggregate economies, various
influences that underlie the process of convergence that seems to
have occurred, and the role that convergence has played and
promises to play in the future of the newly industrialized nations
and the less developed countries. Much of the analysis is set in a
historical perspective, with particular attention paid to the
record following World War II. The prestigious editors conclude
that increasing productivity is the key to rising living standards
in a globalized marketplace. Contributors include: Moses
Abramovitz, Alice M. Amsden, Magnus Blomstrom, David Dollar,
Takashi Hikino, Gregory Ingram, William Lazonick, Frank
Lichtenberg, Robert E. Lipsey, Angus Maddison, Gavin Wright, and
Mario Zejan.
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