Economists often expect income convergence between developed and developing countries due to the theory of absolute convergence, which suggests that poorer economies will grow faster than richer ones, benefiting from technology transfer, capital accumulation, and labor force improvements. However, this convergence has occurred for only a limited number of countries due to factors such as institutional quality, differences in human capital, access to global markets, and varying political stability. Additionally, structural challenges like corruption, inadequate infrastructure, and persistent inequality can hinder the growth of developing nations, preventing widespread income convergence.
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