Income Trap and Immiserizing Growth in BRICS Countries

Sudi Apak, Haşmet Sarigül () and Tuğba Koyuncu Çakmak
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Sudi Apak: Istanbul Esenyurt University, Turkey
Haşmet Sarigül: Istanbul Esenyurt University, Turkey
Tuğba Koyuncu Çakmak: Istanbul Esenyurt University, Turkey

Journal of Economic Development, 2023, vol. 48, issue 3, 1-25

Abstract: This study explores the middle-income trap and immiserizing growth with a particular focus on BRICS countries, which are at the center of the global economy due to many economic aspects. The existence of a middle-income trap was investigated by testing the stationarity of the time series of each BRICS country’s per capita income relative to the USA which has a balanced-growth path close to the global technology frontier’s growth rate. The findings indicate that Russia is lying within the middle-income trap. Cointegration analysis and robust regression techniques were performed to explore the immiserizing growth effects of merchandise exports. The findings reveal evidence of immiserizing growth for India and South Africa.

Keywords: Middle-Income Trap; Immiserizing Growth; BRICS (search for similar items in EconPapers)
JEL-codes: C10 C39 F14 F43 F63 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jecdev:0063

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