Middle-Income Trap: An Analysis Based on Economic Transfo...
Matthews, Maragret
The middle income trap refers to a state of economic development in which a country achieves a specific level of income and then remains there. According to the World Bank, a middle-income country is the one that has a gross national income (GNI) per capita of $1, 000-12, 000 (in 2011 prices). It is divided into the lower and upper middle-income group at around $4, 000. Many countries such as Argentina, Brazil, Mexico, Russia, and South Africa...