The Landscape of Economic Growth: Do Middle-Income Countries Differ?

Barry Eichengreen, Donghyun Park and Kwanho Shin

No 517, ADB Economics Working Paper Series from Asian Development Bank

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 nonforeign direct investment capital inflows, and government debt as a share of gross domestic product.

Keywords: crisis; growth; middle income; total factor productivity (search for similar items in EconPapers)
JEL-codes: O10 O40 O47 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2017-08-09
New Economics Papers: this item is included in nep-fdg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.adb.org/publications/landscape-economi ... dle-income-countries Full text (text/html)

Related works:
Journal Article: The Landscape of Economic Growth: Do Middle-Income Countries Differ? (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0517

Access Statistics for this paper

More papers in ADB Economics Working Paper Series from Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines. Contact information at EDIRC.
Bibliographic data for series maintained by Orlee Velarde ().