Examlex
According to the convergence hypothesis, differences in GDP per capita among countries tend to narrow over time because countries that start with a lower real GDP per capita tend to have negative growth rates.
Decentralization
The distribution of administrative powers or functions across various levels within an organization, as opposed to having them concentrated at a single point.
Advantage
Advantage refers to a favorable position or condition that enhances the probability of success or effectiveness in a competitive environment.
Responsibilities
Duties or obligations that an individual or organization is required or expected to perform.
Decentralization
The distribution of decision-making powers and operational activities away from a central authoritative location or group.
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