Title Avoiding the Middle-Income Trap in Asia
Subtitle The Role of Trade, Manufacturing, and Finance
Author Bihong Huang, Peter J. Morgan, Naoyuki Yoshino
ISBN 9784899740797
List price USD 37.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 566
Book size 153 x 229 mm
Publishing year 2018
Original publisher Brookings Institution Press
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
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Avoiding the “middle-income trap” has become a major topic in the economic literature and a key concern for policy makers, even though a precise definition of it and empirical evidence for it remain elusive. The basic argument is that growth in high-income countries differs qualitatively from that of middle-income countries, and hence requires different factor endowments, industrial structures and policies. Increased capacity to innovate and economic reforms are seen as vital to support higher value-added production. Since achievement of high-income status is a key goal of many policy makers, understanding the factors that hinder or support this transition becomes important. This volume presents recent research related to the middle-income trap, with a focus on the experience of the People’s Republic of China, whose policy makers show great interest in the question.


Tables and Figures




Chapter 1: Introduction (Naoyuki Yoshino, Peter J. Morgan, and Bihong Huang)

Chapter 2: Transitioning from Low-Income Growth to High-Income Growth: Is there a Middle-Income Trap? (David Bulman, Maya Eden, and Ha Nguyen)

Chapter 3: The Middle-Income Trap: Lessons from Latin America (Eva Paus)

Chapter 4: Economic Growth and the Middle-Income Trap: The People’s Republic of China’s Challenges (Xiaolu Wang)

Chapter 5: Manufacturing as the Key Engine of Economic Growth for Middle-Income Economies (Dan Su and Yang Yao)

Chapter 6: Service Sector Growth and the Middle-Income Trap: The Case of the People’s Republic of China (Yanrui Wu)

Chapter 7: Globalization, Structural Change, and Interregional Productivity Growth in the Emerging Economies (Jagannath Mallick)

Chapter 8: Housing Prices and Investment: An Assessment of the Inland-Favoring Land Supply Policies in the People’s Republic of China (Libin Han and Ming Lu)

Chapter 9: Inequality, Aging, and the Middle-Income Trap (Chen Wang and Jiajun Lan)

Chapter 10: Distortions, Growth Catch-Up, and Sustainable Growth (Xiaojing Zhang, Cheng Li, and Yu Li)

Chapter 11: Why Geographic Dispersion Before Its Time: Industrial Policy and Economic Geography in the People’s Republic of China (Yiyun Wu and Xiwei Zhu)

Chapter 12: Does Fiscal Decentralization Help Indonesia Avoid the Middle-Income Trap?
(Darius Tirtosuharto)

Chapter 13: Credit Market Development and Firm Innovation: Evidence from the People’s Republic of China (Hua Shang, Quanyun Song, and Yu Wu)

Chapter 14: Foreign Direct Investment Spillovers and Pharmaceutical Innovation: The Role of Intellectual Property Rights (Chun-Yu Ho, Xin Li, and Weimin Zhou)

Chapter 15: Innovation and Firm Performance in the People’s Republic of China: A Structural Approach with Spillovers (Anthony Howell)


About the Editors:

Bihong Huang is a research fellow at the Asian Development Bank Institute. Previously, she taught at of Renmin University of China and the University of Macau. Her research interests include environmental, development, and financial economics. Her work has been published extensively in books and leading academic and policy-oriented journals.

Peter J. Morgan is a senior consulting economist and vice chair of research at the Asian Development Bank Institute. Before joining ADBI he served as chief Asia economist for HSBC, and worked at several other international banks as well. He holds an MA and PhD in economics from Yale University.

Naoyuki Yoshino is dean at the Asian Development Bank Institute and emeritus professor at the Department of Economics, Keio University, Tokyo, Japan.

Target Audience:

Useful for people interested in the economy of People’s Republic of China.


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