Convergence

Convergence is when economies with low per capita incomes are growing faster than economies with high per capita incomes.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Convergence. When economies with low per capita incomes are growing faster than economies with high per capita incomes.

According to Macroeconomics by Mankiw (7th edition),

Convergence. The tendency of economies with different initial levels of income to become more similar in income over time. Corporate income tax]]. The tax levied on the accounting profit of corporations.