Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial ...Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial upgrade and income growth. Therefore, academia around the worm have paid much attention to theoretical and empirical researches of the ＂middle income trap＂ and long-term trends of global economic growth. Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development, this paper defines the＂middle income trap＂ and its characteristics and examines, through a large number of cases from different economies, the reasons why ＂growth slowdown＂ arises during the middle-income development stage. These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the ＂middle income trap＂.展开更多
文摘Nowadays, more than 50% of the world population live in middle-income economies. Economies in the middle-income development stage are confronted with a number of challenges, such as economic restructuring, industrial upgrade and income growth. Therefore, academia around the worm have paid much attention to theoretical and empirical researches of the ＂middle income trap＂ and long-term trends of global economic growth. Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development, this paper defines the＂middle income trap＂ and its characteristics and examines, through a large number of cases from different economies, the reasons why ＂growth slowdown＂ arises during the middle-income development stage. These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the ＂middle income trap＂.
