Avoiding Middle-Income Growth Traps

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collection.link.171
https://openknowledge.worldbank.org/handle/10986/9402
collection.name.171
Economic Premise
dc.contributor.author
Agénor, Pierre-Richard
dc.contributor.author
Canuto, Otaviano
dc.contributor.author
Jelenic, Michael
dc.date.accessioned
2014-02-10T17:37:02Z
dc.date.available
2014-02-10T17:37:02Z
dc.date.issued
2012-11
dc.date.lastModified
2021-04-23T14:03:33Z
dc.description.abstract
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 of productivity increases. Drawing on the findings of a recently released working paper (Agenor and Canuto 2012), as well as a growing body of research on growth slowdowns, this note provides an analytical characterization of 'middle-income traps' as stable, low-growth economic equilibrium where talent is misallocated and innovation stagnates. To counteract middle-income traps, there are a number of public policies that governments can pursue, such as improving access to advanced infrastructure, enhancing the protection of property rights, and reforming labor markets to reduce rigidities all implemented within a context where technological learning and research and development (R&D) are central to enhancing innovation. Such policies not only explain why some economies particularly in East Asia were able to avoid the middle-income trap, but are also instructive for other developing countries seeking to move up the income ladder and reach high-income status.
en
dc.identifier
http://documents.worldbank.org/curated/en/2012/11/16983271/avoiding-middle-income-growth-traps
dc.identifier.uri
http://hdl.handle.net/10986/16954
dc.language
English
dc.language.iso
en_US
dc.relation.ispartofseries
Economic Premise;No. 98
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
ADVANCED ECONOMIES
dc.subject
ADVERSE CONSEQUENCES
dc.subject
AGRICULTURE
dc.subject
AVERAGE GROWTH
dc.subject
AVERAGE GROWTH RATE
dc.subject
BEST PRACTICES
dc.subject
BRAIN DRAINS
dc.subject
BROADBAND
dc.subject
BROADBAND NETWORKS
dc.subject
BUSINESS CYCLE
dc.subject
CAPITAL ACCUMULATION
dc.subject
CHAMBER OF COMMERCE
dc.subject
COMMUNICATION TECHNOLOGIES
dc.subject
COMMUNICATIONS INFRASTRUCTURE
dc.subject
COMMUNICATIONS NETWORKS
dc.subject
COMMUNICATIONS SERVICES
dc.subject
COMPETITIVENESS
dc.subject
CONSTANT PRICES
dc.subject
CRISES
dc.subject
DEBT
dc.subject
DEBT CRISES
dc.subject
DEVELOPED ECONOMIES
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPING ECONOMIES
dc.subject
DEVELOPING WORLD
dc.subject
DEVELOPMENT ECONOMICS
dc.subject
DEVELOPMENT OF BROADBAND
dc.subject
DIGITAL CONTENT
dc.subject
DISSEMINATION OF INFORMATION
dc.subject
DOMESTIC MARKETS
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICIES
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC RESEARCH
dc.subject
ECONOMIC THEORY
dc.subject
ELECTRICITY
dc.subject
EMERGING MARKETS
dc.subject
EQUIPMENT
dc.subject
EXPORTS
dc.subject
EXTERNALITIES
dc.subject
FINANCE CORPORATION
dc.subject
FLEXIBLE LABOR MARKETS
dc.subject
FOREIGN INVESTMENT
dc.subject
FRAMEWORK FOR INNOVATION
dc.subject
GDP
dc.subject
GDP PER CAPITA
dc.subject
GLOBAL LEADERS
dc.subject
GOVERNMENT FUNDING
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROWTH PROCESS
dc.subject
GROWTH RATE
dc.subject
HIGH GROWTH
dc.subject
HIGH UNEMPLOYMENT
dc.subject
HIGH-SPEED COMMUNICATIONS
dc.subject
HUMAN CAPITAL
dc.subject
INCOME
dc.subject
INCOME GROUP
dc.subject
INCOME LEVELS
dc.subject
INDUSTRIAL DEVELOPMENT
dc.subject
INNOVATION
dc.subject
INTELLECTUAL PROPERTY
dc.subject
INTELLECTUAL PROPERTY RIGHTS
dc.subject
INTERACTIVE MEDIA
dc.subject
INTERNATIONAL COMPETITIVENESS
dc.subject
INTERNATIONAL FINANCE
dc.subject
INTERNATIONAL TRADE
dc.subject
LABOR COSTS
dc.subject
LABOR FORCE
dc.subject
LABOR MARKET
dc.subject
LABOR MARKET FLEXIBILITY
dc.subject
LABOR MARKET RIGIDITIES
dc.subject
LABOR MARKETS
dc.subject
LABOR MOVEMENTS
dc.subject
LABOR SUPPLY
dc.subject
LIBERALIZATION
dc.subject
MACROECONOMICS
dc.subject
MANUFACTURING
dc.subject
MARGINAL BENEFITS
dc.subject
MARGINAL PRODUCTIVITY
dc.subject
MARKET DISTORTION
dc.subject
MARKET DISTORTIONS
dc.subject
MARKET FAILURES
dc.subject
MARKET SHARE
dc.subject
MIDDLE-INCOME COUNTRIES
dc.subject
MIDDLE-INCOME ECONOMIES
dc.subject
MULTIMEDIA
dc.subject
MULTIPLE EQUILIBRIA
dc.subject
NEOCLASSICAL GROWTH
dc.subject
NEOCLASSICAL GROWTH MODEL
dc.subject
NETWORK EXTERNALITIES
dc.subject
OCCUPATIONS
dc.subject
OUTPUT
dc.subject
PACE OF INNOVATION
dc.subject
PATENTS
dc.subject
PER CAPITA INCOME
dc.subject
PER CAPITA INCOMES
dc.subject
POLICY ISSUES
dc.subject
POLICY RESEARCH
dc.subject
POLITICAL UPHEAVALS
dc.subject
POSITIVE IMPACT
dc.subject
POVERTY REDUCTION
dc.subject
PRODUCTIVITY
dc.subject
PRODUCTIVITY GROWTH
dc.subject
PRODUCTIVITY INCREASES
dc.subject
PROPERTY RIGHTS
dc.subject
PUBLIC FUNDS
dc.subject
PUBLIC INFRASTRUCTURE
dc.subject
PUBLIC POLICIES
dc.subject
PUBLIC POLICY
dc.subject
PUBLIC SECTOR
dc.subject
R&D
dc.subject
RAPID DEVELOPMENT
dc.subject
RAPID GROWTH
dc.subject
REAL WAGES
dc.subject
REGULATORY FRAMEWORK
dc.subject
RELATIVE WAGES
dc.subject
RESULT
dc.subject
SUPPLY CHAINS
dc.subject
TECHNICAL SKILLS
dc.subject
TELECOMMUNICATIONS
dc.subject
TELECOMMUNICATIONS NETWORKS
dc.subject
TOTAL FACTOR PRODUCTIVITY
dc.subject
TOTAL FACTOR PRODUCTIVITY GROWTH
dc.subject
TRADE BARRIERS
dc.subject
TRANSACTION
dc.subject
TRANSACTION COSTS
dc.subject
UNSKILLED LABOR
dc.subject
USER
dc.subject
VALUE CHAIN
dc.subject
VALUE CHAINS
dc.subject
WAGES
dc.subject
WORLD ECONOMY
dc.subject
WORLD MARKETS
dc.subject
WWW
dc.title
Avoiding Middle-Income Growth Traps
en
okr.crosscuttingsolutionarea
Jobs
okr.date.disclosure
2012-11-20
okr.doctype
Publications & Research :: Brief
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2012/11/16983271/avoiding-middle-income-growth-traps
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Social Protection and Labor
okr.globalpractice
Poverty
okr.globalpractice
Transport and ICT
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333038_20121121005934
okr.identifier.internaldocumentum
16983271
okr.identifier.report
73792
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/11/21/000333038_20121121005934/Rendered/PDF/NonAsciiFileName0.pdf
en
okr.topic
Private Sector Development :: E-Business
okr.topic
Social Protections and Labor :: Labor Policies
okr.topic
Poverty Reduction :: Inequality
okr.topic
Economic Theory and Research
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Macroeconomics and Economic Growth
okr.unit
Office of VP & Head of Network (PRMVP)
okr.volume
1 of 1

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