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Unit 4 DQ1_Macro

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Q The catch-up model predicts that relatively poorer countries should grow more quickly than richer countries over time. 1. Write a paragraph explaining why this economic model would occur. 2. Have the predictions of the model been accurate? (Use an academic journal article to support your answer.) 3. What are some reasons that countries might have failed to “catch-up” over time? (Utilize current laws, politics, or economic conditions to explain.) (Use an academic journal article to support your answer.) 4. What, if anything, should those countries do differently in the future? (This can be a personal reflection based on the academic journal article information already analyzed.)

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The catch up model is also known as the theory of convergence. In this mode, it states that the countries that are poor do grow much faster compared to that of the richer countries and there are several reasons behind this. Not only do the poor countries grow faster but they also attain a high level of per capita income compared to that of the rich countries. There are several reasons behind this though. The main reason can be considered that the poor countries do get the opportunity to take some of the important things from richer ones and implement in their own countries.