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The Middle Income Trap and the European Competitiveness Policy

Author

Listed:
  • Razvan Voinescu
  • Cristian Moisoiu

Abstract

It is well known that there is no linear economic growth of national economies; if it is to address conditioned convergence or club convergence, even for the countries which provide obvious convergence process, they do not actually meet a linear catching up process. This paper is trying to identify the causes of growth limits, namely growth equilibrium traps and to point some exit solutions from these traps, genuinely called leapfrogs. Besides the hazards which might have positive impacts in some cases, as there are Porter’s chances (1990), this paper would look for adequate answers to the questions whether actual competitiveness policies of European Union could eventually leapfrog the middle income trap and if the competitiveness policies are appropriate in order to eliminate structural differences and gaps between the developed countries and those who come from behind.

Suggested Citation

  • Razvan Voinescu & Cristian Moisoiu, 2015. "The Middle Income Trap and the European Competitiveness Policy," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 7(2).
    • Handle: RePEc:iem:journl:v:7:i:2:y:2015:id:2822000009356027
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    More about this item

    Keywords

    International competitiveness; middle income trap; EU’s policies of competitiveness; real convergence;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • 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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