China: Surpassing the “Middle Income Trap” PDF Download

Author: Shaojie Zhou
Publisher: Palgrave Macmillan
ISBN: 9789811565397
Category : Business & Economics
Languages : en
Pages : 218

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Book Description
This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

Author: Naoyuki Yoshino
Publisher: Asian Development Bank
ISBN: 9784899740797
Category : Business & Economics
Languages : en
Pages : 416

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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.

Author: Zhijie Zheng
Publisher: Palgrave Macmillan
ISBN: 9789811574030
Category : Business & Economics
Languages : en
Pages : 645

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Book Description
This book explores the essence of the middle-income trap based on two major perspectives, namely “economic transformation” and “social transformation”. China has experienced high-speed economic growth for nearly 40 years since the adoption of the Reform and Opening policies. However, China’s economic growth has been slowing down significantly in recent years. Has China tumbled into the middle-income trap? This book reveals the essence of the middle-income trap is that a country's economic growth is facing a "double squeeze" in the middle-income stage, while the social structure and system are unsuitable for the new social development stage, which leads to economic stagnation or recession, and the aggravation of social contradictions, that is, the double predicament of economic transformation and social transformation. This judgment is of great value for understanding the problems encountered in the current development of China.

Author: Elizabeth Warren
Publisher: Basic Books
ISBN: 0465097715
Category : Social Science
Languages : en
Pages : 210

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Book Description
From #1 New York Times bestselling author Senator Elizabeth Warren and consultant Amelia Warren Tyagi, the classic book about America's middle class -- and why economic security remains out of reach for many. In this exposé, Elizabeth Warren and Amelia Warren Tyagi show that modern middle-class families are increasingly trapped by the grinding reality of flat wages and rising costs. Warren and Tyagi reveal how a ferocious bidding war for housing and education has silently engulfed America's suburbs, driving up the cost of keeping families in the middle class, and placing unprecedented pressure on hard-working families. Revolutionary when it was first published in 2003, The Two-Income Trap remains disturbingly relevant today. Now with a new introduction by the authors, The Two Income Trap shows why the usual remedies won't solve the problem and points toward the policy changes that would create better opportunities for both parents and children.

Author: Randall Peerenboom
Publisher: Cambridge University Press
ISBN: 1107028159
Category : Business & Economics
Languages : en
Pages : 399

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Book Description
This interdisciplinary volume addresses the special challenges that middle-income countries confront from both a theoretical and a practical perspective.

Author: Arie Y. Lewin
Publisher: Cambridge University Press
ISBN: 1107127122
Category : Business & Economics
Languages : en
Pages : 505

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Book Description
This book argues that China must become an innovation-based economy to avoid the middle-income traps, and examines both the opportunities and challenges in meeting this goal.

Author: José Antonio Alonso
Publisher: Oxford University Press, USA
ISBN: 0198852770
Category :
Languages : en
Pages : 369

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Book Description
Trapped in the Middle? investigates whether middle-income traps really exist and, in case they do, how these pitfalls are manifested, their causes, what economic policy measures are required to escape from them, and what international cooperation can do to support this process.

Author: Hartmut Elsenhans
Publisher: Stanford University Press
ISBN: 1503604918
Category : Business & Economics
Languages : en
Pages : 104

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Book Description
Once among the fastest developing economies, growth has slowed or stalled in Brazil, Russia, India, China, and South Africa. What policies can governments enact to jump-start the rise of these middle-income countries? Hartmut Elsenhans and Salvatore Babones argue that economic catch-up requires investment in the productivity of ordinary citizens. Diverging from the popular narrative of increased liberalization, this book argues specifically for direct government investment in human infrastructure; policies that increase wages and the bargaining power of labor; and the strategic use of exchange rates to encourage export-led growth. These measures raise up the majority and finance future productivity by driving broader consumption and fostering investment within national borders. Though strategies like full employment, mass education, and progressive taxation are not especially controversial, none of the BRICS have truly embraced them. Examining barriers to implementation, Elsenhans and Babones find that the main obstacle to such reforms is an absence of political will, stemming from closely guarded elite privilege under the current laws. BRICS or Bust? is a short, incisive read that underscores the need for demand-driven growth and why it has yet to be achieved.

Author: Indermit Singh Gill
Publisher: World Bank Publications
ISBN: 082136748X
Category : Business & Economics
Languages : en
Pages : 386

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Book Description
An East Asian Renaissance, by a World Bank team led by Chief Economist for East Asia & Pacific, Dr Homi Kharas and Economic Adviser, Dr Indermit Gill is the first comprehensive analysis of the new forces and challenges at play in the region since the Bank's seminal report of 1993, The East Asian Miracle. The report argues that regional flows of goods, finance and technology are helping even smaller East Asian countries reap the benefits of economies of scale and that this regional integration must be encouraged. But it also points out that these measures have to be supported by actions at the domestic level to ease the stresses and strains that rapid economic growth leaves in its wake. East Asia must now turn to the urgent domestic challenges of inequality, social cohesion, corruption and environmental degradation arising from its economic success.

Author: Mr.Shekhar Aiyar
Publisher: International Monetary Fund
ISBN: 1484315804
Category : Business & Economics
Languages : en
Pages : 64

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Book Description
The “middle-income trap” is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as large sudden and sustained deviations from the growth path predicted by a basic conditional convergence framework. We then examine their determinants by means of probit regressions, looking into the role of institutions, demography, infrastructure, the macroeconomic environment, output structure and trade structure. Two variants of Bayesian Model Averaging are used as robustness checks. The results—including some that indeed speak to the special status of middle-income countries—are then used to derive policy implications, with a particular focus on Asian economies.