Middle income trap
When a country gets stuck at an income / From Wikipedia, the free encyclopedia
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The middle income trap is an economic development situation in which a country that attains a certain income (due to given advantages) gets stuck at that level.[1] The term was introduced by the World Bank in 2007 and is defined by them 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]
When a country gets stuck at an income
