Middle Income Trap:Recognition,International Experience And Enlightenment For China

The "middle income trap" is a concept first proposed in 2006 the world bank,the paper discusses the present development of East Asian economies,describes the economy from low income crosses into the middle-income stage after economic growth slowed or stopped,it is difficult to smoothly enter the ranks of high-income the more common phenomenon.This phenomenon also reveals that there is a stage of economic growth momentum,the growth model is unable to support the sustainable development of the economy.Since 1978,Chinese 30 years of sustained economic growth in the 10 years to tell,and successfully replaced Japan as the second largest economy,per capita GDP is more than $4000,marking the Chinese economy into a high income stage.In recent years,the continuous decline in the growth rate of GDP growth in 2015 is below 7%,to stimulate the thinking of scholars for third Chinese whether the economy will fall into the middle-income trap and how to achieve economic development leap into the high-income stage of this problem.This paper is based on the theory of economic development stage,economic growth theory and comparative advantage theory,by qualitative and quantitative binding,normative and empirical combination binding,and finally comparative analysis.From the economic growth convergence model,whether the country falls into the middle income trap to identify and determine whether the middle income trap does exist,and then empirical study of the driving force of economic growth factors,and in the country from the perspective of China to complete the economy into the high Income countries included in the list of feasible measures.China as the world’s second largest economy,whether the smooth rise from the middle income stage to the list of high-income countries to achieve sustainable economic development,not only to lay the other countries on the global economic situation to determine the tone and provide reference experience,But also affect East Asia and other developing economies across the middle income confidence.On the basis of the previous literature,this paper mainly studies the following three aspects:(1)combing the definition of middle income trap and identifying the state through the economic growth convergence model to verify whether the middle income trap exists(2)Starting from the empirical research framework of economic growth,analyzing the engine of economic growth in different stages of development and discovering the different sources of growth motive at different stages,so as to further analyze the causes of middle income trap;(3)Since the reform and opening up,China Economic development,from the perspective of transnational comparative analysis into the group of national economic existence of the common phenomenon,combined with the experience of countries across the country and further analysis of China’s economic across the middle income trap potential,from the analysis of China’s economy across the middle income stage Inspired.The growth convergence model is ideal for national identification,and it is expected that most of the countries that fall into the middle income trap are identified and that,after empirical research on the drivers of economic growth in different stages of development,And technological breakthroughs are the main driving force of China’s economic growth in the future,China should be cited as a high-income countries across the ranks of high-income countries should be taken seriously.In addition,the development of welfare,population and education policies should be noted that they are compatible with the stage of economic development and can not catch up with high-income economies.