Growth Slowdowns and the Middle-Income Trap /

Growth Slowdowns and the Middle-Income Trap /

The 'middle-income trap' is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified a...

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Bibliographic Details
Main Author: Aiyar, Shekhar
Other Authors: Duval, Romain, Puy, Damien, Wu, Yiqun
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2013.
Series:IMF Working Papers; Working Paper ; No. 2013/071
Online Access:Full text available on IMF
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100 1 |a Aiyar, Shekhar. 
245 1 0 |a Growth Slowdowns and the Middle-Income Trap /  |c Shekhar Aiyar, Romain Duval, Damien Puy, Yiqun Wu. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (64 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The 'middle-income trap' is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as large sudden and sustained deviations from the growth path predicted by a basic conditional convergence framework. We then examine their determinants by means of probit regressions, looking into the role of institutions, demography, infrastructure, the macroeconomic environment, output structure and trade structure. Two variants of Bayesian Model Averaging are used as robustness checks. The results-including some that indeed speak to the special status of middle-income countries-are then used to derive policy implications, with a particular focus on Asian economies. 
538 |a Mode of access: Internet 
700 1 |a Duval, Romain. 
700 1 |a Puy, Damien. 
700 1 |a Wu, Yiqun. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/071 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/071/001.2013.issue-071-en.xml  |z IMF e-Library 

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