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Innovation, Inclusion, and Institutions: East Asian Lessons for Latin America? Read chapter Read first chapter

2016 | OriginalPaper | Chapter

2. Inclusive Development: Escaping the Middle-Income Trap

Author : Alejandro Foxley

Published in: Innovation and Inclusion in Latin America

Publisher: Palgrave Macmillan US

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Abstract

Latin America is once again facing familiar challenges: How to sustain high growth rates when the global economy has decelerated and commodity prices have fallen, and at the same time prioritize social inclusion as a requisite for long-term sustainability of the development process. If these goals are not achieved, Latin America runs the risk of falling into the so-called middle-income trap. It is a fact that by late 2012, 20 countries already had crossed the threshold—US$10,000 per capita measured in PPP (purchasing power parity)—into the ranks of middle-income nations. In four of them (Antigua and Barbuda, Argentina, Chile, and Trinidad and Tobago), the figure was close to US$20,000. Another 11 economies struggling to join the club range from Haiti to countries like Jamaica and the Dominican Republic, which will have crossed the US$10,000 threshold by 2015.

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previous chapter Innovation, Inclusion, and Institutions: East Asian Lessons for Latin America?
next chapter Industrial Upgrading and Innovation Capability for Inclusive Growth: Lessons from East Asia
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Metadata
Title
Inclusive Development: Escaping the Middle-Income Trap
Author
Alejandro Foxley
Copyright Year
2016
Book
Innovation and Inclusion in Latin America

Print ISBN: 978-1-137-59681-9

Electronic ISBN: 978-1-137-59682-6

Copyright Year: 2016

DOI
https://doi.org/10.1057/978-1-137-59682-6_2