Generalising the middle income trap (Mark Fabian, ANU, East Asia Forum)

The middle income trap has recently come (back) into vogue as a theoretical construct for understanding why some countries seem to stagnate at the middle-income level. The middle-income range is relatively common among contemporary emerging markets globally, so it is not surprising that ‘trap’ discussions focus on this income bracket. But middle income trap theory also holds some very valuable lessons for development policy more generally, at all income levels.

http://www.eastasiaforum.org/2016/04/28/generalising-the-middle-income-trap/