Abstract
The general question of convergence, understood as the tendency of differences between countries to disappear over time, is of long-standing interest to social scientists. In the 1950s and early 1960s, many analysts discussed whether capitalist and socialist economies would converge over time, in the sense that market institutions would begin to shape socialist economies just as government regulation and a range of social welfare policies grew in capitalist ones.
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Durlauf, S.N., Johnson, P.A. (2010). convergence. In: Durlauf, S.N., Blume, L.E. (eds) Economic Growth. The New Palgrave Economics Collection. Palgrave Macmillan, London. https://doi.org/10.1057/9780230280823_4
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DOI: https://doi.org/10.1057/9780230280823_4
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