 The Landscape of Economic Growth: Do Middle-Income Countries Differ?Barry Eichengreen, Donghyun Park and Kwanho Shin Emerging Markets Finance and Trade, 2018, vol. 54, issue 4, 836-858 Abstract: We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle-income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to matter less as one moves up the income scale. Demographic variables also matter importantly in low-income countries. In middle-income countries, in contrast, measures of the financial system no longer appear to matter as importantly, as if inefficiencies in banking and financial systems are no longer as binding a constraint as at earlier stages of financial development; nor are demographic variables as important as before. At this point, other variables gain a growing role: these include whether the country experiences a banking or currency crisis, the extent of non-foreign direct investment capital inflows, and government debt as a share of gross domestic product. Date: 2018 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:54:y:2018:i:4:p:836-858 Ordering information: This journal article can be ordered from DOI: 10.1080/1540496X.2017.1419427 Access Statistics for this article More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals |
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