Vygintas Gontis: Where is the hidden economical convergence of countries?

The convergence of economies is an interesting topic to countries, which are significantly behind the leading countries in terms of economic efficiency and standard of living. It should not be a great surprise that the politicians of such developing countries name the economical catch up as their primary political goal. Understanding the essence of political debates on this topic and their interpretation i the media is very challenging topic as economic globalization, or integration, is very complex process. Though the basic understanding of what is known to economists about the economic convergence might be obtained by checking freely available source such as Wikipedia.

Our interest in this topic stems from the widely seen and heard, even among specialists (economists scientists, financial analytics and journalists), misunderstanding of the mechanics behind the observed economical convergence. These some times even principal errors causes society-wide mistrust in countries economical evolution and economical perspectives. We would like to illustrate known laws using certain examples and briefly analyze economic convergence of our region. We hope that interactive tools provided in the text will enable You to experiment with data and find the answers to your questions.

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