Opportunities and Pitfalls for Middle-Income Countries: Technological Progress, Globalization and Institutions, Fall 2003

Friday, December 5, 2003

Two important developments are affecting all world economies today: rapid advances in technologies and globalization. Both of these developments provide great opportunities for middle-income countries, like Turkey, but also present some pitfalls. Those with skilled work forces, those that encourage foreign direct investment and above all those that provide a good institutional environment for new businesses to flourish can take advantage of these developments and quickly advance from being a middle income country to being a high income country. Those that fail in this endeavor may see themselves sliding down in the ranks...Please click here to read the text in full.

CONTRIBUTOR

Daron Acemoğlu

TPQ SPONSORS

FROM THE DESK OF THE EDITOR

Brazil, Russia, India, China, and South Africa, or the BRICS nations, are living proof of how power and influence are constantly changing in the world's politics and economy. Redefining their positions within the global system and laying the groundwork for a multilateral world order that aims to challenge the traditional dominance of Western economies and institutions, the BRICS countries have...