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The Middle-Income Trap and Competition Policy: An Institutional Analysis

Author

Listed:
  • Song Huike

    (University of International Business and Economics, Institute for International Economics, No.10 Huixin Dongjie, Chaoyang District, Beijing, 100029, Beijing, China)

  • Buts Caroline
  • Jegers Marc

    (Applied Economics, Vrije Universiteit Brussel, Brussel, Belgium)

Abstract

This article studies a potential link between the middle-income trap and competition policy. It analyzes how a country’s competition policy relates to the transition process from the middle-income stage to the high-income stage, and what features of competition policy are accompanying a countryʼs successful leap from the middle-income group of countries. We find that to avoid falling into the middle-income trap, a country should have an appropriate institutional environment, which includes rigorous adherence to the rule of law, high regulatory quality, and high government effectiveness. It seems necessary to introduce competition policy as early as possible for countries in the upper middle-income stage. The quality of competition law and the independence of the competition authority must be guaranteed.

Suggested Citation

  • Song Huike & Buts Caroline & Jegers Marc, 2023. "The Middle-Income Trap and Competition Policy: An Institutional Analysis," Asian Journal of Law and Economics, De Gruyter, vol. 14(2), pages 135-161, August.
    • Handle: RePEc:bpj:ajlecn:v:14:y:2023:i:2:p:135-161:n:1
    DOI: 10.1515/ajle-2022-0102
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    More about this item

    Keywords

    middle-income trap; competition policy; economic growth; institution;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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