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Two Manifestations Of The Middle-Income Trap In East-Central Europe

Author

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  • TAMÁS TIBOR CSONTOS

    (Institute of World Economics, Centre for Economic and Regional Studies)

Abstract

The paper attempts to reinterpret the concept of the middle-income trap and develops the theory of participation and self-effort. On this basis, the paper distinguishes two different types of middle-income traps. The exclusion trap, which is the result of a one-sided focus on the self-effort, and the vulnerability trap, which is the result of a one-sided focus on participation. The model argues that catching-up can be achieved when the participation and the self-effort are in harmony. The paper also uses this approach to analyse the middle-income trap in East-Central European countries, demonstrating the empirical validity of the theory. It associates socialist planned economies with the exclusion trap, while identifying the dependent market economy model that emerged after regime change with the vulnerability trap.

Suggested Citation

  • Tamás Tibor Csontos, 2024. "Two Manifestations Of The Middle-Income Trap In East-Central Europe," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 12(2), pages 15-24, December.
    • Handle: RePEc:ntu:ntugeo:vol12-iss2-15-24
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    More about this item

    Keywords

    middle-income trap; East-Central Europe; dependent market economy;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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