Study report on “Key Determinants Affecting Lower Middle Income Trap : Policy Recommendation for Avoiding Lower-Middle Income Trap for Lao PDR”
Date
2015-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
National Economic Research Institute (NERI), Ministry of Planning and Investment (MPI)
Abstract
The study identifies opportunities and challenges for Lao PDR to avoid the “lower middle income trap” which is understood as economic stagnation, recession, or slow economic growth when a country reaches middle income status. Recommendations in terms of the Industrialization and Modernization Strategy include: (1) strengthening human resource and labor force development; (2) increasing public investment in R&D; (3) improving public administration/management systems, including developing and strengthening implementation of measures, regulations and laws related to prevention and control of corruption (4) increasing efficiency and effectiveness in using natural resources and (5) increasing global and regional integration and cooperation.
Description
item.page.type
Policy Brief
item.page.format
Text
Keywords
HUMAN RESOURCES DEVELOPMENT, ECONOMIC POLICY, INDUSTRIALIZATION, ECONOMIC GROWTH, RESOURCES MANAGEMENT, QUALITY OF GROWTH, INSTITUTION BUILDING, PUBLIC INVESTMENT, CORRUPTION, SOCIO-ECONOMIC SURVEYS, ECONOMETRIC ANALYSIS, LAO PDR, FAR EAST ASIA