Developing Asia has undergone a dramatic shift over the past 5 decades from a region of mainly low-income economies toward one that is largely middle income. Compared with world aggregate data, developing Asia now has a much greater proportion of middle-income economies. The region faces the...

Why do some economies grow faster than others? Do economies in the middle-income range face especially difficult challenges producing consistent growth? Using a transition matrix analysis on decade-level growth rates, we find that the data clearly reject the idea that middle-income economies...

We examine the importance of total factor productivity (TFP) growth in middle-income countries based on cross-country panel data for the period 1975-2014. We find that TFP growth contributed significantly to a country’s upward transition from middle-income to high-income country group. The TFP...

Developing Asia has undergone a dramatic shift over the past 5 decades from a region of mainly lowincome economies toward one that is largely middle income. Compared with world aggregate data, developing Asia now has a much greater proportion of middle-income economies. The region faces the...

We examine the evolution of infrastructure, and the impact of infrastructure investment, in middleincome countries (MICs). We document how different types of infrastructure stocks, as well as infrastructure investment, vary with the level of development and growth performance. We then use the...

We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...