The Middle-Income Trap: Issues for Members of the Association of Southeast Asian Nations

Publication | May 2013

Assessment of whether the economies making up the ASEAN can avoid the middle-income trap and advance to the high-income level.

The problem faced by many of the economies making up the Association of Southeast Asian Nations (ASEAN) is whether they can avoid the middle-income trap and advance to the high-income level. What is needed for them to avoid the middle-income trap? This paper attempts to answer this question by building an analytical framework based on the factors that determine each development stage of an economy, and by comparing the current situation of four ASEAN middle-income countries with the experience of the Republic of Korea, a country that managed to overcome the middle-income trap and reach the high-income level in the late 1990s.

WORKING PAPER NO: 421

Additional Details

Author
Type
Series
Subjects
  • Economics
  • Regional cooperation and integration
Countries
  • Indonesia
  • Korea, Republic of
  • Malaysia
  • Philippines
  • Thailand
  • Viet Nam