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Tracking the Middle-Income Trap: What is It, Who is in It, and Why? (Part 1)

dc.contributor.authorJesus Felipe
dc.date.accessioned2015-01-24T13:14:18Z
dc.date.available2015-01-24T13:14:18Z
dc.date.issued2012-03-01
dc.identifier.issn1655-5252
dc.identifier.urihttp://hdl.handle.net/11540/1597
dc.description.abstract"This paper provides a working definition of what the middle-income trap is. It classifies 124 countries that have consistent data for 1950–2010. First, the paper defines four income groups of gross domestic product per capita in 1990 purchasing power parity dollars: low-income below $2,000; lower middle-income between $2,000 and $7,250; upper middle-income between $7,250 and $11,750; and high-income above $11,750. In 2010, there were 40 low-income countries in the world; 38 lower middle-income; 14 upper middle-income; and 32 high-income countries. Second, the paper calculates the threshold number of years for a country to be in the middle-income trap: a country that becomes lower middleincome (i.e., that reaches $2,000 per capita income) has to attain an average growth rate of per capita income of at least 4.7% per annum to avoid falling into the lower middle-income trap (i.e., to reach $7,250, the upper middle-income level threshold); and a country that becomes upper middle-income (i.e., that reaches $7,250 per capita income) has to attain an average growth rate of per capita income of at least 3.5% per annum to avoid falling into the upper middleincome trap (i.e., to reach $11,750, the high-income level threshold). Avoiding the middle-income trap is, therefore, a question of how to grow fast enough so as to cross the lower middle-income segment in at most 28 years; and the upper middle-income segment in at most 14 years."
dc.publisherAsian Development Bank
dc.titleTracking the Middle-Income Trap: What is It, Who is in It, and Why? (Part 1)
dc.typeWorking Papers
dc.subject.expertEconomic Crisis
dc.subject.expertEconomic Efficiency
dc.subject.expertEconomic Policies
dc.subject.expertRegional Economic Development
dc.subject.expertJob Evaluation
dc.subject.expertEvaluation
dc.subject.adbCrisis
dc.subject.adbUnemployment
dc.subject.adbEconomic cooperation
dc.subject.adbGross domestic product
dc.subject.adbEmployment
dc.subject.adbEconomic forecast
dc.subject.naturalFinancial crisis
dc.subject.naturalLabor economics
dc.subject.naturalRegional economics
dc.subject.naturalTurnover
dc.subject.naturalEconomic survey
dc.subject.naturalJob analysis
dc.subject.naturalLabor turnover
dc.title.seriesADB economics working paper series
dc.title.volumeNo. 306
dc.contributor.imprintAsian Development Bank
oar.themeEconomics
oar.themeEvaluation
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic Republic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji
oar.countryKiribati
oar.countryMarshall Islands
oar.countryMicronesia, Federated States of
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryChina, People’s Republic of
oar.countryHong Kong, China
oar.countryChina, People’s Republic of
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-001226
oar.authorFelipe, Jesus
oar.importtrue
oar.googlescholar.linkpresenttrue


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