Felipe, Jesus; Abdon, Arnelyn; Kumar, Utsav - Levy Economics Institute - 2012
This paper provides a working definition of what the middle-income trap is. We start by defining four income groups of … growth rate of per capita income of at least 4.7 percent per annum to avoid falling into the lower-middle-income trap (i … avoid falling into the upper-middle-income trap (i.e., to reach $11,750, the high-income level threshold). Avoiding the …