Middle-Income Trap: A Literature Review
The main aim of this paper is to analyze the theoretical and empirical dimensions of a relatively new phenomenon in economics literature, namely “Middle-Income Trap”, which was firstly discussed by Gill and Kharas (2007). In general, this phenomenon is related to middle-income economies which have s...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Selcuk University Press
2019-11-01
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| Series: | Selçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/865233 |
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| Summary: | The main aim of this paper is to analyze the theoretical and
empirical dimensions of a relatively new phenomenon in economics literature,
namely “Middle-Income Trap”, which was firstly discussed by Gill and Kharas
(2007). In general, this phenomenon is related to middle-income economies which
have several difficulties in exceeding a certain level of per capita income. In
this regard, most of the studies focus on developing countries and
theoretically scrutinize the key
factors behind this vicious circle. Accordingly, these studies also offer
policy implications associated with issues like productivity, quality of
education and technological progress. On the empirical side, most of the
studies draw more attention to Thailand, Mexico, Brazil and Malaysia as
these countries desperately struggle to escape from this trap. |
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| ISSN: | 2564-7458 |