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There is growing evidence that overcoming the low-income threshold and reaching middle-income status is not sufficient for countries to converge toward high-income levels. Few middle-income countries have successfully completed that transit in recent decades, with the majority remaining in the middle-income group, and so facing what has come to be called "the middle-income trap". It is therefore essential to explore whether middle-income traps really exist and, if they do, how these pitfalls are manifested, what their causes are, what economic policy measures are required to escape from them, and what international cooperation can do to support this process. Trapped in the Middle? brings together diverse perspectives on these important questions, providing new evidence and analytical approaches to enrich the debate on the domestic and international challenges faced by a significant number of middle-income countries, in which over three-quarters of the global population live.
This book investigates the structural and economic barriers that prevent middle-income countries from successfully transitioning to high-income status. Edited by José Antonio Alonso and José Antonio Ocampo, the text synthesizes contributions from various experts to analyze the phenomenon known as the middle-income trap. It evaluates whether this trap is a verifiable economic reality, identifies the primary causes of stagnation, and proposes policy frameworks for sustainable growth and international cooperation.
What You Will Find
Experts and economists frequently cite this volume as a comprehensive resource for understanding the complexities of global development and the limitations of current economic growth models. The text is noted for its academic rigor and its ability to bridge the gap between theoretical economic analysis and practical policy implementation.
Page Count:
368
Publication Date:
2020-12-20
Publisher:
Oxford University Press
ISBN-10:
0198852770
ISBN-13:
9780198852773
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