The Middle-income Trap and its Narrow Escape Hatches: Dependent Development and FDI-led Growth in Romania

Cornel Ban, Zoltán Mihály

Research output: Chapter in Book/Report/Conference proceedingBook chapterResearch


Since the 1990s, the economic development of Central and Eastern Europe has maintained high economic growth rates, seemingly leading to an era of prosperity. This very positive vision of future economic success, linked to current political backlash and a long history of economic adversity, is a thin veil of the economic “way west” for so-called transition countries. The Middle-Income Trap in Central and Eastern Europe examines the reality of the diminishing marginal utility of further international investments alongside the pitfalls of higher government spending to cultivate innovation which ultimately makes foreign capital less attractive. In this volume authors from diverse disciplinary perspectives reflect on current debates surrounding the developmental bottlenecks in East-Central Europe. Their common goal is to analyze the manner of socio-economic transformation, question of the relevance and impact of the “middle-income trap” and identify possible ways to escape it.
Original languageEnglish
Title of host publicationThe Middle-income Trap in Central and Eastern Europe : Causes, Consequences and Strategies in Post-communist Countries
EditorsYaman Kouli, Uwe Müller
Number of pages25
Place of PublicationNew York
PublisherBerghahn Books
Publication date2023
ISBN (Print)9781805391814
ISBN (Electronic)9781805391821, 9781805393955
Publication statusPublished - 2023
SeriesNew Perspectives on Central and Eastern European Studies

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