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https://doi.org/10.21256/zhaw-22552| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Old wine and new bottles : a critical appraisal of the middle-income trap in BRICS countries |
| Authors: | Hartwell, Christopher A. |
| et. al: | No |
| DOI: | 10.3897/j.ruje.4.27726 10.21256/zhaw-22552 |
| Published in: | Russian Journal of Economics |
| Volume(Issue): | 4 |
| Issue: | 2 |
| Page(s): | 133 |
| Pages to: | 154 |
| Issue Date: | 30-Jun-2018 |
| Publisher / Ed. Institution: | Voprosy Ekonomiki |
| ISSN: | 2405-4739 2618-7213 |
| Language: | English |
| Subjects: | BRICS; Growth; Institiutions; Middle income trap |
| Subject (DDC): | 330: Economics |
| Abstract: | The idea of a middle-income trap is now over a decade old and continues to be applied to growth paths which have not been self-sustaining. With the bulk of emerging markets now approaching middle-income status, and given the reality of slower growth for many countries (and the policy recommendations that currently exist for overcoming this problem), is the middle-income trap still a relevant framework? Using reference to the BRICS countries, the key finding of this analysis is that the middle-income trap conceptualization is of little value-added, as fundamentals still matter, especially in relation to macroeconomic stability. Similarly, we note that “quality” institutions are necessary, both political and economic, including (smaller) size of government and property rights. The “trap” as currently formulated is thus nothing new or particularly relevant, as it repackages some familiar structural issues while avoiding other crucial ones. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/22552 |
| Fulltext version: | Published version |
| License (according to publishing contract): | CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International |
| Departement: | School of Management and Law |
| Organisational Unit: | International Management Institute (IMI) |
| Appears in collections: | Publikationen School of Management and Law |
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| 2018_Hartwell_Old-wine-and-new-bottles-a-critical-appraisal-of-the-middle-income-trap-in-BRICS-countries.pdf | 735.94 kB | Adobe PDF |  View/Open |
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Hartwell, C. A. (2018). Old wine and new bottles : a critical appraisal of the middle-income trap in BRICS countries. Russian Journal of Economics, 4(2), 133–154. https://doi.org/10.3897/j.ruje.4.27726
Hartwell, C.A. (2018) ‘Old wine and new bottles : a critical appraisal of the middle-income trap in BRICS countries’, Russian Journal of Economics, 4(2), pp. 133–154. Available at: https://doi.org/10.3897/j.ruje.4.27726.
C. A. Hartwell, “Old wine and new bottles : a critical appraisal of the middle-income trap in BRICS countries,” Russian Journal of Economics, vol. 4, no. 2, pp. 133–154, Jun. 2018, doi: 10.3897/j.ruje.4.27726.
HARTWELL, Christopher A., 2018. Old wine and new bottles : a critical appraisal of the middle-income trap in BRICS countries. Russian Journal of Economics. 30 Juni 2018. Bd. 4, Nr. 2, S. 133–154. DOI 10.3897/j.ruje.4.27726
Hartwell, Christopher A. 2018. “Old Wine and New Bottles : A Critical Appraisal of the Middle-Income Trap in BRICS Countries.” Russian Journal of Economics 4 (2): 133–54. https://doi.org/10.3897/j.ruje.4.27726.
Hartwell, Christopher A. “Old Wine and New Bottles : A Critical Appraisal of the Middle-Income Trap in BRICS Countries.” Russian Journal of Economics, vol. 4, no. 2, June 2018, pp. 133–54, https://doi.org/10.3897/j.ruje.4.27726.
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