Show Para
PASSAGE-4
The IMF has pointed out that the fast growing economies of Asia face the risk of falling into 'middle-income trap'. It means that average incomes in these countries, which till now have been growing rapidly, will stop growing beyond a point-a point that is well short of incomes in the developed West. The IMF identifies a number of causes of middle-income trap-none of which is surprising-from infrastructure to weak institutions, to less than favourable macroeconomic conditions. But the broad, overall cause, says IMF, is a collapse in the growth of productivity
The IMF has pointed out that the fast growing economies of Asia face the risk of falling into 'middle-income trap'. It means that average incomes in these countries, which till now have been growing rapidly, will stop growing beyond a point-a point that is well short of incomes in the developed West. The IMF identifies a number of causes of middle-income trap-none of which is surprising-from infrastructure to weak institutions, to less than favourable macroeconomic conditions. But the broad, overall cause, says IMF, is a collapse in the growth of productivity
© examsnet.com
Question : 44
Total: 80
Go to Question: