WebThe idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies, and in the Solow-Swan growth model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is …

WebGroups of countries or regions are often referred to by a single term (word, phrase, or abbreviation). The origins of such terms include political alliances, intergovernmental organizations, business market areas, and mere colloquialism.. A. AMEA: Asia, Middle East and Africa; America (AMER or AMERS): Usage varies; it may refer to just the United …