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Inequality and the middle‐income trap
Journal of International Development, 2023AbstractThis paper proposes an indicator measuring the likelihood for an economy to escape the middle income trap (MIT) and then estimates the impact of income inequality on this indicator using 1960‐2019 cross‐country data. Major findings include the following: (1) The likelihood of escaping MIT is relatively large for Asia, followed by Europe, Africa,
Xiaoshan Hu +3 more
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Understanding the Middle Income Trap
2021China has already entered the upper middle income development stage. However, the Chinese economy has simultaneously entered a new stage of development, meaning that it has already passed the Lewis turning point, and its demographic dividend is gradually disappearing as its economic growth rate began to decline in 2012.
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Convergence Success and the Middle-Income Trap
SSRN Electronic Journal, 2018This paper investigates the economic growth experiences of middle‐income economies over the period 1960–2014 focusing on two groups of countries. The “convergence success” group includes middle‐income economies which have graduated to a high‐income status or have achieved rapid convergence progress. When an economy in the “nonsuccess” group experienced
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Aspects of the Middle Income Trap
2020In 2007, the World Bank published the report, “An East Asian Renaissance: Ideas for Economic Growth,” and raised the issue of “a middle income trap” for the first time. In “China 2030: Building a Modern, Harmonious, and Creative Society,” released in 2012 by the World Bank and the Development Research Center of the State Council of the People’s ...
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Avoiding Middle-Income Growth Traps [PDF]
Economic Premise, 2012 Since the 1950s, rapid growth has allowed a significant number of countries to reach middle-income status; yet, very few have made the additional leap needed to become high-income economies. Rather, many developing countries have become caught in what has been called a middle-income trap, characterized by a sharp deceleration in growth and in the pace ...
Pierre-Richard Agénor +2 more
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Will income inequality cause a middle-income trap in Asia? [PDF]
, 2013 The Asian economy is expected to realise favourable growth during the first half of this century, but there is no guarantee. There is a discussion about a ‘middle-income trap’, which refers to a country that has realised rapid growth to become a middle-income country but is unable to grow further. A middle-income trap could occur not only if there is a
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