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What is the difference between unconditional and conditional convergence in economics , and why is this...

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Economics

What is the difference between unconditional andconditional convergence in economics , and why is this differenceimportant?

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In economics Conditional convergence implies that a country or a region is converging to its own steady state while unconditional convergence implies that all countries or regions are converging to a common steady state potential level of income Conditional convergence is the tendency that the poorer countries grow    See Answer
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