The Landscape of Economic Growth: Do Middle-Income Countries Differ?
Eichengreen, Barry; Park, Donghyun; Shin, Kwanho | August 2017
Abstract
We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to matter less as one moves up the income scale. Demographic variables also matter importantly in low-income countries. In middle-income countries, in contrast, measures of the financial system no longer appear to matter as importantly, as if inefficiencies in banking and financial systems are no longer as binding a constraint as at earlier stages of financial development; nor are demographic variables as important as before. At this point, other variables gain a growing role: these include whether the country experiences a banking or currency crisis, the extent of nonforeign direct investment capital inflows, and government debt as a share of gross domestic product.
Citation
Eichengreen, Barry; Park, Donghyun; Shin, Kwanho. 2017. The Landscape of Economic Growth: Do Middle-Income Countries Differ?. © Asian Development Bank. http://hdl.handle.net/11540/7389. License: CC BY 3.0 IGO.ISSN
2313-6537 (Print)
2313-6545 (e-ISSN)
Keywords
Price stabilization
Food prices
Price policy
Crisis
Unemployment
Economic cooperation
Gross domestic product
Employment
Economic forecast
Economic indicators
Growth models
Gross domestic product
Macroeconomics
Economic forecast
Social condition
Economic dependence
Economic assistance
Economic Crisis
Economic Efficiency
Economic Policies
Regional Economic Development
Job Evaluation
Evaluation
Macroeconomic
Macroeconomic Analysis
Performance Evaluation
Impact Evaluation
Economic Welfare
Economic Incentives
Open price system
Price fixing
Price regulation
Consumer price indexes
Financial crisis
Labor economics
Regional economics
Turnover
Economic survey
Job analysis
Labor turnover
Exports
Economic development projects
Economic policy
Economic forecasting
Welfare economics
Welfare state
Poor
Food relief
Poverty
Domestic economic assistance
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