Jahangir Alam’s Reviews > Capital in the Twenty First Century > Status Update

Historical experience shows that knowledge diffusion is the primary driver of economic convergence, allowing poorer regions to catch up by adopting the technological know-how of wealthier ones. This process is not automatic; it is significantly accelerated by international openness and trade, whereas isolation (autarky) tends to stall progress. Ultimately,successfully absorb this knowledge depends on govt efficiency