Learning from China's Rise to Escape the Middle-Income Trap : A New Structural Economics Approach to Latin America

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dc.creatorTreichel, Volker
dc.creatorLin, Justin Yifu
dc.date2012-12-21T20:25:44Z
dc.date2012-12-21T20:25:44Z
dc.date2012-08
dc.date.accessioned2026-07-01T00:57:41Z
dc.descriptionThis paper discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from China's rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to help Latin America escape the middle-income trap. Countries in Latin America and the Caribbean are caught in a middle-income trap due to their inability to structurally upgrade from low value-added to high value-added products. Governments in Latin America and the Caribbean should intervene in industries in which they have a comparative advantage, calibrating supporting policies in close collaboration with the private sector through public-private sector alliances. Through continuous structural upgrading in sectors intensive in factors such as natural resources, scientific knowledge, and unskilled labor, the region could achieve dynamic growth. This would require investments in education, research and development, and physical infrastructure. Therefore, industrial upgrading and diversification would be essential to avoid further de-industrialization arising from the competitive pressures of the rise of China, broaden the base for economic growth, and create the basis for further sustained reduction in unemployment, poverty and income inequality. Failure to do so would lead to a loss of competitiveness and risks of further de-industrialization.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/08/16593868/learning-chinas-rise-escape-middle-income-trap-new-structural-economics-approach-latin-america
dc.identifierhttps://hdl.handle.net/10986/12013
dc.identifierhttps://doi.org/10.1596/1813-9450-6165
dc.identifier.urihttp://hdl.handle.net/123456789/413539
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;6165
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectADVANCED COUNTRIES
dc.subjectADVANCED COUNTRY
dc.subjectADVANCED ECONOMIES
dc.subjectAFFILIATES
dc.subjectAGRICULTURE
dc.subjectBANK OF KOREA
dc.subjectBANKING CRISES
dc.subjectBANKING SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKS
dc.subjectBASE YEAR
dc.subjectBENCHMARKS
dc.subjectBINDING CONSTRAINTS
dc.subjectBUDGET DEFICITS
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INTENSITY
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY EXPORTS
dc.subjectCOMMODITY PRICES
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVE MARKET
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCONTINGENT LIABILITIES
dc.subjectCREDIT POLICIES
dc.subjectCURRENCY
dc.subjectDEBT
dc.subjectDEBT CRISES
dc.subjectDEBT CRISIS
dc.subjectDEMOGRAPHIC
dc.subjectDEMOGRAPHIC CHANGES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPING ECONOMIES
dc.subjectDEVELOPMENT BANKS
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIMINISHING RETURNS
dc.subjectDISPOSABLE INCOME
dc.subjectDIVIDENDS
dc.subjectDYNAMIC ECONOMIES
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC POWERHOUSE
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC STRUCTURE
dc.subjectECONOMIES OF SCALE
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectENERGY RESOURCES
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE REGIMES
dc.subjectEXCHANGE RATES
dc.subjectEXPORT BASE
dc.subjectEXPORT MARKETS
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectEXTERNALITY
dc.subjectFACTORS OF PRODUCTION
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTORS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL DEFICIT
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFORECASTS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN TRADE
dc.subjectFUTURE GROWTH
dc.subjectGDP
dc.subjectGDP DEFLATOR
dc.subjectGDP PER CAPITA
dc.subjectGLOBAL ECONOMIC LANDSCAPE
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL EXPORTS
dc.subjectGLOBAL MARKET
dc.subjectGLOBAL OUTPUT
dc.subjectGLOBAL RISK
dc.subjectGLOBALIZATION
dc.subjectGNP
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT INTERVENTIONS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH OF MULTINATIONAL
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH THEORY
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME GROWTH
dc.subjectINCOME INEQUALITY
dc.subjectINDIVIDUAL FIRMS
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINDUSTRIALIZATION
dc.subjectINFLATION
dc.subjectINFLATION TARGETING
dc.subjectINFLATIONARY FINANCING
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINFRASTRUCTURE REQUIREMENTS
dc.subjectINTANGIBLE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISION
dc.subjectINVESTMENT POLICY
dc.subjectJOINT VENTURES
dc.subjectLABOR COSTS
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLIBERALIZATION
dc.subjectLIVING STANDARDS
dc.subjectLOW-INCOME COUNTRIES
dc.subjectLOW-INCOME COUNTRY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMIC VULNERABILITIES
dc.subjectMANUFACTURING INDUSTRIES
dc.subjectMARGINAL COST
dc.subjectMARKET ACCESS
dc.subjectMARKET FAILURES
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET SHARE
dc.subjectMARKET SHARES
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMIDDLE-INCOME COUNTRY
dc.subjectMIGRATION
dc.subjectMONETARY POLICY
dc.subjectMONOPOLY
dc.subjectMULTINATIONAL CORPORATIONS
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectNEOCLASSICAL MODELS
dc.subjectNET EXPORTS
dc.subjectNEW MARKETS
dc.subjectNONPERFORMING LOANS
dc.subjectOUTPUT
dc.subjectOUTPUTS
dc.subjectPER CAPITA INCOME
dc.subjectPER CAPITA INCOMES
dc.subjectPOLITICAL POWER
dc.subjectPOWER PARITY
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE CAPITAL FLOWS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATIZATION
dc.subjectPRODUCT MARKETS
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROTECTIONISM
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC ENTERPRISES
dc.subjectPURCHASING POWER
dc.subjectRAPID GROWTH
dc.subjectRATE OF RETURN
dc.subjectREAL EXCHANGE RATES
dc.subjectRESOURCE ALLOCATION
dc.subjectRETURN ON INVESTMENT
dc.subjectSAVINGS
dc.subjectSAVINGS RATES
dc.subjectSCARCE CAPITAL
dc.subjectSEIGNIORAGE
dc.subjectSOCIAL CAPITAL
dc.subjectSOCIAL PROTECTION
dc.subjectSTABILIZATION POLICIES
dc.subjectSTATE ENTERPRISES
dc.subjectSTRUCTURAL CHANGE
dc.subjectSURPLUS LABOR
dc.subjectTARIFF BARRIERS
dc.subjectTAX
dc.subjectTAX COLLECTION
dc.subjectTAX SYSTEM
dc.subjectTELECOMMUNICATIONS
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectUNEMPLOYMENT
dc.subjectUNFAIR COMPETITION
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD ECONOMIES
dc.subjectWORLD ECONOMY
dc.subjectWORLD MARKET
dc.subjectWORLD MARKETS
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.titleLearning from China's Rise to Escape the Middle-Income Trap : A New Structural Economics Approach to Latin America

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