The Middle-Income Trap: Issues for Members of the Association of Southeast Asian Nations
AbstractThe problem faced by many of the economies making up the Association of Southeast Asian Nations (ASEAN) is whether they can avoid the middle-income trap and advance to the high-income level. What is needed for them to avoid the middle-income trap? This paper attempts to answer this question by building an analytical framework based on the factors that determine each development stage of an economy, and by comparing the current situation of four ASEAN middle-income countries with the experience of the Republic of Korea, a country that managed to overcome the middle-income trap and reach the high-income level in the late 1990s.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 421.
Length: 33 pages
Date of creation: 16 May 2013
Date of revision:
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asean; middle-income trap; republic of korea; viet nam; indonesia; malaysia; philippines; thailand;
Find related papers by JEL classification:
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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[One Economics, Many Recipes: Globalization, Institutions, and Economic Growth]," Introductory Chapters, Princeton University Press.
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