Full Description
This book describes and addresses the challenges faced by middle-income countries, who have sustained enough economic growth to transition out of low-income status, but who are unable to grow fast enough to resemble high-income countries. By mapping development trends since the 1960s, it examines the causes of the middle-income trap and the specific economic conditions that define the countries in this position. The policies that have previously helped other countries escape the middle-income trap are evaluated to create a policy framework for African countries attempting to bridge the development gap.
This book, which brings together case studies from the Côte d'Ivoire, South Africa, Nigeria, Botswana, and Morocco, offers a new model for economic growth that considers the history of Africa and the economic challenges the continent currently faces. It will be of interest to researchers and policymakers working in development economics, African economics, and economic policy.
Contents
1. Introduction and overview.- 2. Avoiding the middle-income trap: Insights, experiences, and policies.- 3. Avoid the trap: An empirical investigation.- 4. Cote d'Ivoire: Public policy to stimulate growth and avoid the trap.- 5. South Africa: Economic policies to promote equality and achieve high-income status.- 6. Nigeria: Challenges and opportunities to avoid the middle-income trap.- 7. Botswana: Challenges and policy responses to avoid the trap.- Morocco: Growth, employment, and policies to avoid the middle-income gap.
