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Books > Business & Economics > Economics > Economic theory & philosophy
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Asia and the Middle-Income Trap (Paperback)
Loot Price: R1,137
Discovery Miles 11 370
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Asia and the Middle-Income Trap (Paperback)
Series: PAFTAD Pacific Trade and Development Conference Series
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The term 'Middle-Income Trap' refers to countries which stagnate
economically after reaching a certain level of per capita income on
the basis of labour- and capital-intensive growth, and are
struggling to transition towards more skill-intensive and
technology-driven development. It has resonance for the increasing
number of countries in Asia who have either languished in
middle-income status for extended periods of time, or are worried
about growth slow-downs. This book sets outs the conceptual
underpinnings of the Middle-Income Trap and explores the various
ways it can be defined. It also focuses on the debate surrounding
the Middle-Income Trap which questions the appropriate
institutional and policy settings for middle-income countries to
enable them to continue past the easy phase of economic growth. The
book engages with this debate by investigating the role of
institutions, human capital, and trade policy in helping countries
increase their income levels and by highlighting factors which
enable the shift to higher and qualitatively better growth. It
questions how the large emerging economies in Asia such as China,
Indonesia, and India are currently grappling with the challenges of
transitioning from labour-intensive to technology- and
knowledge-intensive production, and discusses what can be learnt
from the countries that have been able to escape the trap to attain
high-income status. Providing a conceptual framework for the
Middle-Income Trap, this book will be of interest to students and
scholars of Asian Economics, Comparative Economics and Asian
Studies.
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