O PROCESSO DE CONVERGÊNCIA: UMA ANÁLISE APRECIATIVA

Abstract

Empirical studies have shown the existence of productivity and income per capita differentials among countries and a trend to reduce these differentials among the developeded countries. This trend, named the Convergence Hypothesis (H-C), has been increasing in relevance given the relative decline in America’s rate of growth of income per capita and productivity since the second half of the 60’s. The analysis of this process, in general, has been made in two broad lines of inquiry.The first is based on econometric models of economic growth, and the second on the catch-uphypothesis, more suited for the analysis of the process of economic development. This paper follows the second approach and analyzes the H-C, from the perspective of the recent experience of the american economy. First, it takes into account the main reasons for this decline: the growth of the international trade, mass production etc. Second, the reasons for the maintenance of the American economy leadership in world economy, despite that relative decline. Leadership in technology, in particular in high technology industries, given the USA’s share in world export of high technology products, is one of the main reasons...