Abstract
Does openness contribute to convergence of countries to the US income level? Our statistical and econometric analysis concludes for an affirmative answer. Using data for 150 countries for 1970-2012 we conclude almost all cases fell in three groups of countries that experienced a significant convergence: (i) followed the Asian export model, (ii) accessed the European Union, or (iii) are rich in natural resources and had an appropriate policy. All three cases are based on openness. Institutions also play a major role. There is beta-convergence. But over the all period only 20% of the countries jumped from low to middle and from middle to high income, which shows the persistence of each group.The paper "Development Theory and Globalization, the Second Wave: A Reinterpretation" to which this Appendix II applies is available at the following URL: http://ssrn.com/abstract=2444601Appendix I for this paper are available at the following URL: http://ssrn.com/abstract=2444622
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