Question: 2. (a) Arias and Wen (Trapped: Few Developing Countries Can Climb the Economic Ladder or Stay There) report on the middle-income trap. Explain the

2. (a) Arias and Wen (“Trapped: Few Developing Countries Can Climb the Economic Ladder or Stay There”) report on the middle-i

2. (a) Arias and Wen ("Trapped: Few Developing Countries Can Climb the Economic Ladder or Stay There") report on the middle-income trap. Explain the definitions (e.g., Starting Point) assumed by the table and cite specific figures in the table to explain the middle-income trap. TABLE 1 Income Transition Probabilities between 1950 and 2011 A: 10-Year Transitions Ending Point 15 to 50% >50% 15 to 50% 0.09 0.80 0.11 >50% 0.00 0.03 0.97 (b) Explain the causes of the middle-income trap according to Arias and Wen. Starting Point

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