Does convergence matter if it takes 100 years? Different scenarios of convergence

Abstract

This paper attempts to show that the income gap between rich and poor countries cannot be eliminated with the current international policies. Different scenarios are discussed. It would take 130 years for the Congo, 203 years for Eritrea and 103 years for low-income countries to reach to the current average per capita income of Norway. To equalize the overall per capita income levels of high and low-income countries from now until the year 2020, the latter group would have to grow 20 percent. These values show that current economic policies are insufficient to create economic parity among the world's nations. To do so would require radical changes in current domestic and international economic policy.