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In development economics, the middle income trap is a situation where a country has developed until GDP per capita has reached a middle level of income, but the country does not develop further and it does not attain high income country status. [1]
World Development Report (2024) Akcigit served as the Academic Lead for the World Development Report 2024. That year's report, The Middle-Income Trap , identified what what developing economies can do to avoid the “middle-income trap.”
The World Development Report (WDR) is an annual report published since 1978 by the World Bank. Each WDR provides in-depth analysis of a specific aspect of economic development . Past reports have considered such topics as agriculture, youth, equity, public services delivery, the role of the state, transition economies , labour, infrastructure ...
The latest official figures from the U.S. Census Bureau place median household income at $74,580. The Pew Research Center defines middle-income households as those "with an income that is two ...
The high-income trap refers to the phenomenon of slower growth in most high-income, developed countries compared to lower-income countries. [1] [2] [3] Some economists argue that there is more evidence for a high-income trap than the middle-income trap. [4] Among the countries said to experience this trap are Taiwan [5] and Japan. [6]
The category of newly industrialized country (NIC), newly industrialized economy (NIE) [1] or middle income country [2] is a socioeconomic classification applied to several countries around the world by political scientists and economists.
Billionaires' wealth grew three times faster in 2024 than the year before, a top anti-poverty group reported on Monday as some of the world's political and financial elite prepared for an annual ...
From 1980, Kharas spent 26 years at the World Bank, serving for seven years as chief economist for the World Bank’s East Asia and Pacific region [3] and as director for poverty reduction and economic management, finance and private sector development. Along with Indermit Gill, he developed the novel concept of 'middle income traps'. [2]