AN EMPIRICAL EVALUATION OF THE MIDDLE-INCOME TRAP AND IMMISERIZING GROWTH IN BRICS COUNTRIES
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Tarih
2023
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Economic Research Institute of Chung-Ang University
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study explores the middle-income trap and immiserizing growth with a particular focus on BRICS countries, which are at the center of the global economy due to many economic aspects. The existence of a middle-income trap was investigated by testing the stationarity of the time series of each BRICS country’s per capita income relative to the USA which has a balanced-growth path close to the global technology frontier’s growth rate. The findings indicate that Russia is lying within the middle-income trap. Cointegration analysis and robust regression techniques were performed to explore the immiserizing growth effects of merchandise exports. The findings reveal evidence of immiserizing growth for India and South Africa. © (2023). All Rights Reserved.
Açıklama
Anahtar Kelimeler
BRICS, Immiserizing Growth, Middle-Income Trap
Kaynak
Journal of Economic Development
WoS Q Değeri
Scopus Q Değeri
Q4
Cilt
48
Sayı
3
