Avoiding the Middle-income Trap in Asia: The Role of Trade, Manufacturing, and Finance
Huang, Bihong; Morgan, Peter J.; Yoshino, Naoyuki | December 2018
Abstract
Avoiding the “middle-income trap” has become a major topic in the economic literature and a key concern for policy makers, even though a precise definition of it and empirical evidence for it remain elusive. The basic argument is that growth in high-income countries differs qualitatively from that of middle-income countries, and hence requires different factor endowments, industrial structures and policies. Increased capacity to innovate and economic reforms are seen as vital to support higher value-added production. Since achievement of high-income status is a key goal of many policy makers, understanding the factors that hinder or support this transition becomes important. This volume presents recent research related to the middle-income trap, with a focus on the experience of the People’s Republic of China, whose policy makers show great interest in the question.
Citation
Huang, Bihong; Morgan, Peter J.; Yoshino, Naoyuki. 2018. Avoiding the Middle-income Trap in Asia: The Role of Trade, Manufacturing, and Finance. © Asian Development Bank Institute. http://hdl.handle.net/11540/9354. License: CC BY 3.0 IGO.PDF ISBN
9784899740803
Print ISBN
9784899740797
Keywords
Economic Crisis
Economic Efficiency
Economic Policies
Regional Economic Development
Job Evaluation
Evaluation
Macroeconomic
Macroeconomic Analysis
Performance Evaluation
Impact Evaluation
Economic Welfare
Economic Incentives
Economic Efficiency
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
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
Efficiency wage theory
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