Similar socio-economic characteristics of the world countries in the middle-income trap

The countries in the middle-income group aim to achieve the high income level in order to increase per capita income and thus welfare levels. However, some countries in the middle income group have not achieved this goal for a long time. In the literature, this situation is called as the middle income trap. Countries need to implement a number of policies to get rid of this trap. In this context, the aim of the study is to reveal the differences between the countries in the middle income trap and the high income countries in terms of basic socio-economic indicators and thus to identify the common characteristics of the countries caught in the trap. In order to achieve this goal, first of all, growth models are discussed and then the concept and theoretical framework of middle income trap are discussed. Finally, t-test and discriminant analysis have been performed to determine the differences between countries in the middle income trap and high-income countries within the framework of some socio-economic indicators which are expressed as the main determinants of the middle income trap in the literature. The basic socio-economic indicators used in these analyzes consist of human development index, gini index, average life expectancy, growth rate, savings ratio, research-development expenditures, education index and technology exports.