Since the 1950s, rapid growth has allowed a significant number of countries to reach middle-income status; yet, very few have made the additional leap needed to become high-income economies. Rather, many developing countries have become caught in what has been called a middle-income trap,...

Since the 1950s, rapid growth has allowed a significant number of countries to reach middle-income status; yet, very few have made the additional leap needed to become high-income economies. Rather, many developing countries have become caught in what has been called a middle-income trap,...

After experiencing an initial period of rapid growth, many developing countries have fallen into the middle- income “trap”—stuck between low-wage, low-technology markets and high-income, innovation-based developed economies. As previous literature has demonstrated (Agénor and Canuto...