Question: As more developing countries are moving into the middle-income group, few graduates to develop country status (high-income group). The developing countries can get 'stuck in

As more developing countries are moving into the middle-income group, few graduates to develop country status (high-income group). The developing countries can get 'stuck in the middle' or they are in the 'middle income trap'. Taking Vietnam as an example that seem to be caught in this trap, and drawing on the literature on the Middle-Income Trap, discuss what are the factors that can lead a developing country to be struck in the middle-income trap?

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The middleincome trap refers to a situation where developing countries experience a slowdown in economic growth and struggle to transition from middle... View full answer

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