| ID | 179135 |
| Title Proper | Growth Slowdowns and Stagnation in the Middle |
| Other Title Information | the Middle-Income Trap Revisited |
| Language | ENG |
| Author | Ekanayake, Raveen |
| Summary / Abstract (Note) | This study first reframes the “middle-income trap” paradigm as the incidence of growth slowdowns and stagnation in the middle. This is followed by an analysis of its determinants using a cross-country panel data covering sixty-five middle-income countries between 1997 and 2017. The findings suggest that, as economies approach the “Lewis turning point”, low value-added labour-intensive economic activities become less and less competitive, setting the stage for moving into a skill- and capital-intensive growth phase. To successfully navigate the middle-income transition, countries must look beyond capital accumulation, invest in developing human capital capabilities to sustain international competitiveness in the face of rising wage pressures, and induce structural change in favour of high value-added economic activities. |
| `In' analytical Note | Journal of Southeast Asian Economies (ASEAN Economic Bulletin Change the Name ) Vol. 38, No.1; Apr 2021: p.100-132 |
| Journal Source | Journal of Southeast Asian Economies (ASEAN Economic Bulletin Change the Name ) 2021-04 38, 1 |
| Key Words | Growth Slowdowns ; Stagnation in the Middle ; Middle-Income Trap Revisited |