Income convergence in emerging markets signals global economic stability and growth.
The article examines how the income levels in emerging market economies are getting closer to each other over time. They looked at data from 1999 to 2019 and found that overall, incomes are moving towards a similar level. The study used different methods to analyze this, including looking at how different factors like education affect this process. The results show that while incomes are getting more similar, there are still differences between countries. The findings suggest that more research is needed to fully understand how incomes are converging in emerging market economies.