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This paper analyzes the convergence hypothesis and the impact of social policy on the economic growth of the six largest countries in Latin America between 1980 and 2010. Results suggest that social public policies have positively influenced growth in these economies. Particularly, there are non-observed variables (fixed effects) that positively affect the economic growth in Venezuela and Chile; however, there are other non-observed variables that may be negatively affecting growth in Brazil and Mexico. Regarding the convergence hypothesis, results reveal that the speed of convergence diminishes as real income rises, implying that these countries might be converging to their stable states. [ABSTRACT FROM AUTHOR]

In the universe of literature on franchises, several studies have examined the impact of franchising on economic growth, tending to focus on growth rather than development, although the empirical research has already concluded that franchising does have an influence on economic growth. Likewise, some articles have underscored the importance and influence of franchising on development, but have failed to provide empirical proof of its true sway. With that in mind, this paper provides empirical evidence demonstrating the relationship between franchising and development. [ABSTRACT FROM AUTHOR]