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What Is the 'Middle Income Trap'?
- Source :
- China: Surpassing the “Middle Income Trap” ISBN: 9789811565397
- Publication Year :
- 2020
- Publisher :
- Springer Nature Singapore, 2020.
-
Abstract
- In 2007, Indermit Gill and Homi Kharas (2007), two World Bank economists, published a report titled An East Asian Renaissance: Ideas for Economic Growth, which suggested that East Asia would soon develop into a middle-income region and proposed the concept of the “middle income trap”. It should be noted that the report did not provide an in-depth interpretation of the concept, nor did it offer a clear income range for the “middle income trap”. In 2011, Homi Kharas and Harinder Kohli (2011) further elaborated on the concept, specifying that when a country escapes the poverty trap in the low-income development stage and enters into the middle-income development phase, the country may face growth stagnation and inability to further move up the ladder into the high-income range.
Details
- Database :
- OpenAIRE
- Journal :
- China: Surpassing the “Middle Income Trap” ISBN: 9789811565397
- Accession number :
- edsair.doi...........57ea0b7a751a9f1468a095a793579843