This paper looks into possible determinants of potential output growth. Findings suggest that factors such as tertiary level education and the technology gap with the US, among others, significantly affect potential growth output.
Findings suggest that financial factors have positive and statistically significant effects on the output gap of the G-5 and high-income economies in Asia, but do not affect those of middle-income Asian economies.
Findings in this paper suggest that the path to prosperity through industrialization may have become more difficult, and industrialization in employment has been more important for eventual prosperity than industrialization in output.
The phenomenon of the middle-income trap is problematic because it has not been defined and has not been studied theoretically. The idea of a trap implies that economies are stuck, which is not what this paper finds.