Author: Publisher:
ISBN:
Category :
Languages : en
Pages : 57
Book Description
Latin America and the Middle-income Trap
Author: Innovation and Inclusion in Latin America
Author: Alejandro FoxleyPublisher: Springer
ISBN: 1137596821
Category : Political Science
Languages : en
Pages : 245
Book Description
This book argues that Latin America must confront two main challenges: greater innovation to increase productivity, and greater inclusion to incorporate more of the population into the benefits of economic growth. These two tasks are interrelated, and both require greater institutional capacity to facilitate both innovation and inclusion. Most countries in Latin America are struggling to escape what economists label “the middle income trap.” While much if not all of the region has emerged from low income status, neither growth nor productivity has increased sufficiently to enable Latin America to narrow the gap separating it from the world’s most developed economies. Although income inequality has diminished across much of the region in recent years, social vulnerability remains widespread and institutional weaknesses continue to plague efforts to achieve equitable development. This volume identifies lessons that can be learned and adapted from experiences within the region and in East Asia, where the middle income trap has largely been avoided. This book is the result of a collaborative project undertaken by American University’s Center for Latin American & Latino Studies (CLALS) and the Corporation for Latin American Studies (CIEPLAN) in Chile, with financial support from the Inter-American Development Bank’s Office of Strategic Planning and Development Effectiveness.
China and Latin America
Author: 复旦大学 (Shanghai, China). 发展研究院Publisher:
ISBN: 9787520327480
Category : China
Languages : en
Pages : 291
Book Description
Avoiding the Middle-Income Trap in Asia
Author: Naoyuki YoshinoPublisher: Asian Development Bank
ISBN: 9784899740797
Category : Business & Economics
Languages : en
Pages : 416
Book Description
Since many policymakers aspire to pull their countries out of the middle-income trap and into the ranks of high-income countries, they must understand the factors that hinder or support the transition. This book defines the middle-income trap and examines the roles of manufacturing, finance, and trade openness in achieving sustainable development. The book also explores the role of government policy in fostering growth in the People's Republic of China. A common theme is that such policies may have unforeseen side effects that undermine their effectiveness, including how the hukou registration system and land-use policy control the pace of urbanization.
Learning from China's Rise to Escape the Middle-income Trap
Author: Justin Yifu LinPublisher:
ISBN:
Category : Economic development
Languages : en
Pages : 63
Book Description
This paper discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from China's rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to help Latin America escape the middle-income trap. Countries in Latin America and the Caribbean are caught in a middle-income trap due to their inability to structurally upgrade from low value-added to high value-added products. Governments in Latin America and the Caribbean should intervene in industries in which they have a comparative advantage, calibrating supporting policies in close collaboration with the private sector through public-private sector alliances. Through continuous structural upgrading in sectors intensive in factors such as natural resources, scientific knowledge, and unskilled labor, the region could achieve dynamic growth. This would require investments in education, research and development, and physical infrastructure. Therefore, industrial upgrading and diversification would be essential to avoid further de-industrialization arising from the competitive pressures of the rise of China, broaden the base for economic growth, and create the basis for further sustained reduction in unemployment, poverty and income inequality. Failure to do so would lead to a loss of competitiveness and risks of further de-industrialization.
Economic Mobility and the Rise of the Latin American Middle Class
Author: Francisco H. G. FerreiraPublisher: World Bank Publications
ISBN: 0821397230
Category : Business & Economics
Languages : en
Pages : 203
Book Description
After decades of stagnation, the size of Latin America's middle class recently expanded to the point where, for the first time ever, the number of people in poverty is equal to the size of the middle class. This volume investigates the nature, determinants and possible consequences of this remarkable process of social transformation. We propose an original definition of the middle class, tailor-made for Latin America, centered on the concept of economic security and thus a low probability of falling into poverty. Given our definition of the middle class, there are four, not three, classes in Latin America. Sandwiched between the poor and the middle class there lies a large group of people who appear to make ends meet well enough, but do not enjoy the economic security that would be required for membership of the middle class. We call this group the 'vulnerable'. In an almost mechanical sense, these transformations in Latin America reflect both economic growth and declining inequality in over the period. We adopt a measure of mobility that decomposes the 'gainers' and 'losers' in society by social class of each household. The continent has experienced a large amount of churning over the last 15 years, at least 43% of all Latin Americans changed social classes between the mid 1990s and the end of the 2000s. Despite the upward mobility trend, intergenerational mobility, a better proxy for inequality of opportunity, remains stagnant. Educational achievement and attainment remain to be strongly dependent upon parental education levels. Despite the recent growth in pro-poor programs, the middle class has benefited disproportionally from social security transfers and are increasingly opting out from government services. Central to the region's prospects of continued progress will be its ability to harness the new middle class into a new, more inclusive social contract, where the better-off pay their fair share of taxes, and demand improved public services.
Learning from China's Rise to Escape the Middle-Income Trap
Author: Justin Y. LinPublisher:
ISBN:
Category :
Languages : en
Pages : 63
Book Description
This paper discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from China's rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to help Latin America escape the middle-income trap. Countries in Latin America and the Caribbean are caught in a middle-income trap due to their inability to structurally upgrade from low value-added to high value-added products. Governments in Latin America and the Caribbean should intervene in industries in which they have a comparative advantage, calibrating supporting policies in close collaboration with the private sector through public-private sector alliances. Through continuous structural upgrading in sectors intensive in factors such as natural resources, scientific knowledge, and unskilled labor, the region could achieve dynamic growth. This would require investments in education, research and development, and physical infrastructure. Therefore, industrial upgrading and diversification would be essential to avoid further de-industrialization arising from the competitive pressures of the rise of China, broaden the base for economic growth, and create the basis for further sustained reduction in unemployment, poverty and income inequality. Failure to do so would lead to a loss of competitiveness and risks of further de-industrialization.
The Product Space and the Middle-Income Trap
Author: Anna JankowskaPublisher:
ISBN:
Category : Development
Languages : en
Pages : 70
Book Description
Rapid and sustained economic growth in the emerging world has brought new members, notably China, into the group of middle-income countries. Reaching this level of income, however, has historically presented countries with a new set of challenges to development, resulting in slowing growth and an entrapment in what is known as the middle-income trap. Limited income convergence in Latin America has at least partly been due to its reduced capacity to engage in a structural transformation conducive to higher productivity. In contrast, emerging Asia offers a few examples of these 'virtuous. productive transformations. With these two references in mind, we build a comparative analysis based on the following points: First, we illustrate differences in the process of structural transformation, both with regard to sector productivity and employment absorption. Second, we adopt the Product Space methodology to compare the structural transformation that took place in both regions. Finally, we consider the role played by Productive Development Policies (PDP) in shaping the process of structural transformation, through a comparative review of these policies in Korea, Brazil and Mexico. In short, the analysis allows us to gauge the role that the economic specialisation of a country plays in facilitating transitions to more advanced stages of economic development.
No Sympathy for the Devil! Policy Priorities to Overcome the Middle-income Trap in Latin America
Author: Fair Growth
Author: Nancy BirdsallPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 236
Book Description
"Presents 'tools' to make life in Latin America more equitable and fair for the majority. Suggests policies and programs for making tax structures more progressive; giving small businesses a chance; protecting labor mobility and workers' rights; tackling corruption; and raising levels of quality, efficiency, and equity of the education systems"--Provided by publisher.