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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
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
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.
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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