Drawing on the development experience and advances in economic analysis since the 1950s, World Development Report 2024 identifies what developing economies can do to avoid the “middle-income trap.” ...

Malaysia faces a real risk of a middle-income trap due to stagnant wages, brain drain, and over-reliance on depleting oil revenues. Despite attractive valuations and a diversified economy, structural ...

The World Development Report (WDR) 2024 titled “The MiddleIncome Trap” reported that about 108 middle-income countries are ...

We investigate the existence of a middle-income trap using finite state Markov chains, constant growth thresholds, and mean passage times. As well as studying output per head, we examine the dynamics ...