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Sokoloff and Engerman explained this convergence in their article "History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World." They explained that the United States and Canada started out as two of the poorest colonies in the New World but grew faster than other countries due to their soil qualities.
The idea of convergence has roots in the 1950s, and was a response to greater economic integration and international capital flows after World War II. Before the 1990s, convergence took the form of harmonization, the reduction of differences between the various accounting standards used internationally. [2]
This is the most striking difference between the spherical and ellipsoidal versions of the transverse Mercator projection: Gauss–Krüger gives a reasonable projection of the whole ellipsoid to the plane, although its principal application is to accurate large-scale mapping "close" to the central meridian. [citation needed]
Social mobility is the movement of individuals, families, households or other categories of people within or between social strata in a society. [1] It is a change in social status relative to one's current social location within a given society. This movement occurs between layers or tiers in an open system of social stratification.
The MAP can be used to obtain a point estimate of an unobserved quantity on the basis of empirical data. It is closely related to the method of maximum likelihood (ML) estimation, but employs an augmented optimization objective which incorporates a prior density over the quantity one wants to estimate.
Convergence clubs, in global economic theory, pertain to levels of international attainment. Groups of countries are classified based on educational levels, income per capita and other measurable factors.
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Big bang adoption or direct changeover is when a new system is adopted instantly, with no transition period between the old and new systems. [ 1 ] [ 2 ] [ 3 ] When a new system needs to be implemented in an organization , there are three different ways to adopt this new system: the big bang adoption, phased adoption and parallel adoption .