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Income Trap and Immiserizing Growth in BRICS Countries

Author

Listed:
  • APAK, SUDI

    (Istanbul Esenyurt University, Turkey)

  • SARIGÜL , HAŞMET

    (Istanbul Esenyurt University, Turkey)

  • ÇAKMAK, TUĞBA KOYUNCU

    (Istanbul Esenyurt University, Turkey)

Abstract

This study explores the middle-income trap and immiserizing growth with a particular focus on BRICS countries, which are at the center of the global economy due to many economic aspects. The existence of a middle-income trap was investigated by testing the stationarity of the time series of each BRICS country’s per capita income relative to the USA which has a balanced-growth path close to the global technology frontier’s growth rate. The findings indicate that Russia is lying within the middle-income trap. Cointegration analysis and robust regression techniques were performed to explore the immiserizing growth effects of merchandise exports. The findings reveal evidence of immiserizing growth for India and South Africa.

Suggested Citation

  • Apak, Sudi & Sarigül , Haşmet & Çakmak, Tuğba Koyuncu, 2023. "Income Trap and Immiserizing Growth in BRICS Countries," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 48(3), pages 1-25, September.
    • Handle: RePEc:ris:jecdev:0063
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    More about this item

    Keywords

    Middle-Income Trap; Immiserizing Growth; BRICS;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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