Over the past 70 years very few economies have progressed from low income to high income (Singapore, Hong Kong, Taiwan, Korea, Persian Gulf oil producers). What may explain their success?

Most Latin American economies have stopped converging GDP/capita with high-income countries (middle income trap). What may have caused this?

Large emerging economies (Brazil, India, China) face specific challenges. What are a few of these?

What explains the recent success of East European economies like Poland?

Answer rating: 100% (QA)

The success of economies transitioning from low income to high income can be attributed to a combination of various factors While each case may have unique circumstances there are some common elements ... View the full answer