Chapter 1 What Is the Real Middle-Income Trap?

• I. Introduction

• II. Inevitable Decline in Growth

• III. The Specious Trap

• IV. Definition of Middle-Income Trap

• V. How Big is the Middle-Income Trap?

• VI. Conclusion

• References

• List of Abbreviations

Chapter 2 The Middle-Income Trap in Selected Literature: An Overview

• I. Introduction

• II. Definitions of Middle-Income Countries

• III. Approaches to the Middle-Income Trap

• IV. Main Driving Forces of the Middle-Income Trap

• V. Components of a Strategy to Avoid Being Trapped

• VI. Concluding Remarks

• References

• List of Abbreviations

Chapter 3 Economic Transition in China and Middle-Income Trap

• I. Introduction

• II. A Brief Review of Chinese Economy from 1950s to Now

• III. Literature Review of Economic Transition

• IV. A Zoom in of the Structural Change and Income Growth Pattern in the Last 20 Years

• V. Discussion on Income Distribution and Policy Enlightenment

• VI. Conclusions

• References

• List of Abbreviations

Chapter 4 Transition and the Middle-Income Trap in Peru: A Long Term Perspective Since the Late 19th Century

• I. Introduction

• II. Context and Research Questions

• III. International Economic Transition: Employment and Output

• IV. Data and Methodology

• V. Conclusions and Recommendations

• References

• List of Abbreviations

Chapter 5 China and the World: The Background and Economic Logic of China’s Opening-UP

• I. Introduction

• II. Domestic Undercurrent for the Reform and Opening-Up of China

• III. Changes in the Outside World

• IV. The Theoretical Logic of Opening-Up to the Outside World

• V. Conclusion

• References

• List of Abbreviations

Chapter 6 Peru’s Opening-Up: Strategies, Impacts and Pending Tasks

• I. Introduction

• II. How Is Economic Openness Defined?

• III. The Nineties and Commercial and Financial Openness

• IV. The Mining Boom and the 2008 Global Financial Crisis: 2001-2010

• V. Free Trade Agreements

• VI. The Slowdown, 2011-2016

• VII. The Chinese Connection

• VIII. The National Program for Productive Diversification

• IX. Pending Agenda and Recommendations

• References

• List of Abbreviations

Chapter 7 Escaping the Middle-Income Trap in China: A Regional Perspective

• I. Introduction

• II. Regional Harmonious Development and Path Choice for Crossing the Middle-Income Trap

• III. Promoting Human Capital and the Leading Role of Big Cities and Metropolitan Areas

• IV. Contradictions and Effects of Coordinated Development of Regional Economy

• V. Prospects and Policy Implications

• References

• List of Abbreviations

Chapter 8 Regional Development in Peru: Trends and Challenges

• I. Introduction

• II. Recent Trends in Regional Economic Performance in Peru

• III. Recent Patterns in Internal Labor Migration

• IV. Income and Inequality of Access to Infrastructure

• V. The Distribution of Human Capital in Peru

• VI. Concluding Remarks

• References

• Appendixes

• List of Abbreviations

Chapter 9 Infrastructure Investment Challenges in Emerging Economies and Solutions of China

• I. Introduction

• II. Investment Demand, Practical Investment and Output of Infrastructure Sector in Emerging Economies (Leaping over Middle-Income Trap)

• III. Experience of Chinese Infrastructure Investment

• IV. Conclusions and Lessons from China’s Infrastructure Investment

• References

• List of Abbreviations

Chapter 10 The Gap in Infrastructure Investment in Peru and Challenges Ahead

• I. Introduction

• II. Infrastructure Investments

• III. Peruvian Deficit

• IV. Challenges

• V. Conclusions and Recommendations

• References

• List of Abbreviations

Chapter 11 China’s Economic Policy Framework to Deal with the Middle-Income Trap

• I. Introduction

• II. Fading Away of Two Conditions: The Demographic and Globalization Dividends

• III. Release Human Capital Dividend through Comprehensive Opening-Up

• IV. A Liberalized Financial System to Support the “Real Economy”: the “Middle Way” to Reform?

• V. From Technological Imitation to Innovation

• VI. Improve the Domestic Business Environment and Investment Environment through Further Opening-Up

• VII. Preventing the Opening-Up from Becoming a Short-Term Control Tool

• VIII. Conclusion: from Strong Growth to Sustainable Development

• References

• List of Abbreviations

Chapter 12 Informality in Peru and Its Effects on Innovation at Firm Level

• I. Introduction

• II. Theoretical Background

• III. Hypotheses

• IV. Method

• V. Results and Discussion

• VI. Conclusions and Recommendations

• VII. Future Research Suggestions

• References

• List of Abbreviations

Chapter 13 Financial Crisis and the Middle-Income Trap: Implications for China

• I. Introduction

• II. The Middle-Income Trap Stems from Economic Instability

• III. The Economic Instability of Middle-Income Economies Mainly Stems from Financial Crises

• IV. Why do Middle-Income Economies Frequently Experience Financial Crises?

• V. The Key to Avoiding the Middle-Income Trap Is to Prevent Financial Crises

• VI. Conclusions: Will China Have a Financial Crisis in the Near Future?

• References

• List of Abbreviations

Chapter 14 Concluding Chapter-Overleaping the Middle-Income Trap: A Chinese Perspective

• I. Introduction

• II. Sample Selection and Facts

• III. Experience and Facts

• IV. Conclusions and Enlightenment

• References

• List of Abbreviations

Chapter 15 Concluding Chapter-Peruvian Perspective: The Middle-Income Trap or the Challenges of Development. A Comparative Approach of China and Peru

• I. Introduction

• II. The Concept of the Middle-Income Trap: Comparative View

• III. The Economic Transition in China and Peru: Comparative Perspective

• IV. Chinese and Peruvian Opening-Up: Different Challenges

• V. Regional Development, Inequality and Human Capital: Coincidences and Differences between China and Peru

• VI. Infrastructure Investment: Achievements of China, Gap in Peru and Challenges Ahead

• VII. Two Different Realities: Fostering Innovation in China and the Impact of Informality in Peru

• VIII. Final Remarks: Looking at China’s Future Transformation and Peru’s Pending Agenda

• References

• List of Abbreviations