Economics · Economic Growth
Based on Mankiw, Romer and Weil (1992), conditional convergence implies that holding saving rates, population growth, and human capital constant:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Growth in income per capita is completely independent of the initial level of GDP
- 2Income per capita in rich countries grows faster than in poor countries
- 3Income per capita in poor countries grows faster than in rich countries✓
- 4Income per capita is the same regardless of whether a country is initially poor or rich
Correct answer
Income per capita in poor countries grows faster than in rich countries
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