New indicator reveals countries' economic growth convergence patterns.
The article discusses how countries with lower income tend to grow faster than richer ones, but they may not all reach the same level of wealth. The researchers introduce a new way to measure this convergence or divergence using an indicator called omega. This indicator looks at how different countries are catching up economically. The paper explains the concept of convergence, presents the model, compares different indicators, and concludes on the findings.