The Middle Income Trap and the European Competitiveness Policy

Razvan Voinescu and Cristian Moisoiu

Revista de Economie Mondiala / The Journal of Global Economics, 2015, vol. 7, issue 2

Abstract: It is well known that there is no linear economic growth of national economies; if it is to address conditioned convergence or club convergence, even for the countries which provide obvious convergence process, they do not actually meet a linear catching up process. This paper is trying to identify the causes of growth limits, namely growth equilibrium traps and to point some exit solutions from these traps, genuinely called leapfrogs. Besides the hazards which might have positive impacts in some cases, as there are Porter’s chances (1990), this paper would look for adequate answers to the questions whether actual competitiveness policies of European Union could eventually leapfrog the middle income trap and if the competitiveness policies are appropriate in order to eliminate structural differences and gaps between the developed countries and those who come from behind.

Keywords: International competitiveness; middle income trap; EU’s policies of competitiveness; real convergence (search for similar items in EconPapers)
JEL-codes: F43 F63 O47 O52 (search for similar items in EconPapers)
Date: 2015
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