Middle income trap

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In development economics, the middle income trap is a situation where a country has developed until GDP per capita has reached a middle level of income, but the country does not develop further and it does not attain high income country status.[1] The term was introduced by the World Bank in 2007 who defined it as the "middle-income range" countries with gross national product per capita that has remained between $1,000 to $12,000 at constant (2011) prices.[2]

  1. ^ Graphic detail Charts, maps and infographics (2011-12-22). "Asias Middle Income Trap". Economist.com. Retrieved 2014-08-11.
  2. ^ "The middle-income trap turns ten". World Bank. 26 August 2015. Retrieved 9 March 2021.