APEC and the Middle Income Trap

Abstract

The term ‘Middle Income Trap’ has a lot of resonance for countries in the region, many of whom have either languished in middle-income status for extended periods of time, or are worried about growth slow-downs. However, while the concept has been successful at attracting the attention of policy-makers, it has also given rise to a plethora of different definitions, methods of measurement, and countries that it is taken to refer to. Beyond the validity of the concept itself, it is worth asking if this is an area where APEC can make a useful contribution, given its unique organizational characteristics.