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Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question
In his previous Schumpeter Prize-winning work, Lee analysed the 'middle-income trap', in which a developing country grows strongly only to plateau at a certain point. Yet certain developing countries, most significantly China, have managed to esca
Chapters 1 and 10 from this book are published open access and free to read or download from Oxford Academic. After the miraculous economic growth known as the Beijing Consensus, China is now facing a slowdown. The attention has moved to the issue of the