Catch-Up Effect
Categories: Econ, International
The more general category of the Heinz Effect.
Notionally, however, the Catch-Up Effect claims that all economies are, more or less, created equal...and that poor economies will grow faster than wealthy ones. Sort of the Law of Large Numbers...and sort of an opportunity cost and liquidity driven set of arguments.
See Economic Convergence for a much better definition than this one.
