Studies confirm that controlling for other variables such as the percentage of GDP devoted to investment, poor countries tend to grow at a faster rate than rich countries.

Question

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This phenomenon is often explained by the theory of convergence, which suggests that poor countries have the potential to grow at a faster rate than rich countries because they can adopt existing technologies and practices from wealthier nations, allowing for more rapid economic development and catch-up growth.

Studies Confirm That Controlling for Other Variables Such as the Percentage