Publication:
Middle-Income Growth Traps

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dc.contributor.authorAgénor, Pierre-Richard
dc.contributor.authorCanuto, Otaviano
dc.date.accessioned2012-12-21T19:50:29Z
dc.date.available2012-12-21T19:50:29Z
dc.date.issued2012-09
dc.description.abstractThis paper studies the existence of middle-income growth traps in a two-period overlapping generations model of economic growth with two types of labor and endogenous occupational choices. It also distinguishes between "basic" and "advanced" infrastructure, with the latter promoting design activities, and accounts for a knowledge network externality associated with product diversification. Multiple steady-state equilibria may emerge, one of them taking the form of a low-growth trap characterized by low productivity growth and a misallocation of talent -- defined as a relatively low share of high-ability workers in design activities. Improved access to advanced infrastructure may help escape from that trap. The implications of other public policies, including the protection of property rights and labor market reforms, are also discussed.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/09/16769897/middle-income-growth-traps
dc.identifier.doi10.1596/1813-9450-6210
dc.identifier.urihttps://hdl.handle.net/10986/12004
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research working paper;no. 6210
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectADVERSE CONSEQUENCES
dc.subjectAGGREGATE DEMAND
dc.subjectAGGREGATE DEMAND CURVE
dc.subjectAGRICULTURE
dc.subjectALLOCATION
dc.subjectARBITRAGE
dc.subjectBANK POLICY
dc.subjectBARRIERS TO ENTRY
dc.subjectBEQUESTS
dc.subjectBONDS
dc.subjectBRAIN DRAINS
dc.subjectBUDGET CONSTRAINT
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUSINESS CYCLE
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL STOCK
dc.subjectCAPITAL STOCKS
dc.subjectCOMPETITIVENESS
dc.subjectCONCAVE CURVE
dc.subjectCONSTANT RETURNS
dc.subjectDEBTS
dc.subjectDECREASING RETURNS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDISCOUNT RATE
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC RESEARCH
dc.subjectEMPLOYMENT
dc.subjectENDOGENOUS INNOVATION
dc.subjectEQUILIBRIUM
dc.subjectEXCLUSIVE RIGHTS
dc.subjectEXPENDITURE
dc.subjectEXPORTS
dc.subjectFINANCES
dc.subjectFINANCIAL CRISIS
dc.subjectFORMAL ANALYSIS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT FUNDING
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGROWTH ACCOUNTING
dc.subjectGROWTH MODEL
dc.subjectGROWTH MODELS
dc.subjectGROWTH PROCESS
dc.subjectGROWTH RATE
dc.subjectHOLDING
dc.subjectHUMAN CAPITAL
dc.subjectIMPERFECT COMPETITION
dc.subjectIMPERFECT SUBSTITUTES
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINCOME LEVELS
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINNOVATION
dc.subjectINTERMEDIATE GOODS
dc.subjectINTERMEDIATE INPUT
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL MARKETS
dc.subjectKNOWLEDGE DIFFUSION
dc.subjectLABOR COSTS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET RIGIDITIES
dc.subjectLABOR SUPPLY
dc.titleMiddle-Income Growth Trapsen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleMiddle-Income Growth Traps
okr.date.disclosure2012-09-01
okr.date.doiregistration2025-04-10T12:15:08.965990Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/09/16769897/middle-income-growth-traps
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.guid914221468331043656
okr.identifier.doi10.1596/1813-9450-6210
okr.identifier.externaldocumentum000158349_20120926083026
okr.identifier.internaldocumentum16769897
okr.identifier.reportWPS6210
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/09/26/000158349_20120926083026/Rendered/PDF/wps6210.pdfen
okr.topicSocial Protections and Labor::Labor Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication9f42d4a7-f5f2-50a9-bba7-b0fa16636471
relation.isAuthorOfPublication.latestForDiscovery9f42d4a7-f5f2-50a9-bba7-b0fa16636471
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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