Economic Growth in Middle-Income Countries: A Theoretical and Empirical Approach to Development in Turbulent Times

This book provides a theoretical framework for analyzing growth and development in developing countries, highlighting the unique challenges they face. It offers a comprehensive approach to development economics, covering topics such as institutions, financing, trade, and sustainable development. The book emphasizes the importance of health, education, and political freedom alongside economic growth and provides simple growth models to understand the challenges of middle-income countries. It is a valuable resource for researchers and academics in development economics and other social sciences.

Format: Hardback
Length: 309 pages
Publication date: 31 October 2023
Publisher: Taylor & Francis Ltd

This comprehensive book presents a novel theoretical framework for analyzing growth and development, departing from the traditional neoclassical paradigm. By employing analytical data, it delves into the primary policy challenges affecting developing countries, with a special focus on those that have experienced a period of rapid growth but struggle to maintain economic momentum. One of the central themes of the book is the notion that each of these countries faces its own unique middle-income trap. The book centers the discussion on growth and development around the distinct characteristics and constraints faced by these countries in their pursuit of rapid growth.

The book provides a comprehensive framework for understanding development economics from the perspective of developing economies. It examines real-life barriers to growth and development, including institutions, access to financing, macroeconomic policies, the role of foreign direct investment, the advantages and disadvantages of trade and financial openness to the rest of the world, education and health issues, sustainable development in the context of global warming, productive development policies, income distribution, and poverty. Furthermore, it offers simple growth models that extend beyond the conventional neoclassical model to better grasp the unique challenges faced by developing countries. While acknowledging the importance of growth for development, the book also emphasizes the significance of other variables, such as health, education, and political freedom, in achieving well-being.

The book summarizes the key issues that are essential for countries to accelerate their growth rates and achieve development. It makes a theoretical contribution to the study of economic development, particularly in the context of developing economies. By offering a fresh perspective and rigorous analysis, this book is a valuable resource for scholars, policymakers, and practitioners interested in understanding the complexities of economic growth and development in the world's emerging markets.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032366012