{"product_id":"middle-income-trap-is-there-a-way-out-von-tahsina-akbar","title":"Middle-Income Trap. Is there a way out?","description":"\u003cp\u003eEssay from the year 2017 in the subject Business economics - Economic Policy, grade: Distinction, London School of Economics, language: English, abstract: Middle-income trap has become a well-known phenomenon with a large number of countries falling into the trap and getting stagnated. The article is an attempt to investigate whether falling into the Middle-income trap is inevitable or there is a way out through in-depth review of secondary research. The article argues, supported by previous empirical and descriptive evidence, that countries (and regions within) are not systematically bound to fall into a MI trap, rather, certain determinants, such as institutions, economic structure, infrastructure and other factors make countries (and regions within) more susceptible to a MI trap. It discusses how the complex economic structure of a MI country (and region within) requires a shift to capital intensive, innovation- driven efficient economy to make a timely transition to HI economy. It also highlights the need for a certain level of infrastructure to capture the benefits of an export-based economy. Moreover, decentralization, inequality and demography play significant role in intensifying the MI trap period affecting growth. Therefore, the article concludes, while some countries (and regions within) fall into a MI trap and stagnate, others do not, due to uneven condition of their determinants.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783668644915\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783668644915","offer_id":39822445576285,"sku":"9783668644915","price":17.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/bbfb6ffe-b6ee-40b2-bdce-362f6ea077d7.jpg?v=1778474927","url":"https:\/\/shop.autorenwelt.de\/products\/middle-income-trap-is-there-a-way-out-von-tahsina-akbar","provider":"Autorenwelt Shop","version":"1.0","type":"link"}