Escaping the middle-income trap: A study on a developing economy

• Published in: Cogent social sciences Vol. 9; no. 2
• Main Authors: Islam, Md. Jaber Al, Mahmud, Imroz, Islam, Aminul, Sobhani, Farid Ahammad, Hassan, Md. Sharif, Ahsan, Arif
• Format: Journal Article
• Language: English
• Published: Abingdon Cogent 15.12.2023; Taylor & Francis Ltd; Taylor & Francis Group
• Subjects: Bangladesh; COVID-19; Developing countries; Economic conditions; Economic development; Economic growth; economic transition; GDP; GNI; Gross Domestic Product; Gross National Income; Growth rate; High income; Income distribution; income growth; International relations; LDCs; Literature reviews; middle-income trap; National income; Per capita; Policy making; Recessions; Remittances; Social sciences; sustainable development; Bangladesh

Middle-Income Trap (MIT) is a phenomenon wherein a nation finds itself unable to progress from a middle-income status to a high-income economy. Despite Bangladesh's rapid economic growth as a developing economy following its transition to the lower-middle-income category, the country faces vari...