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Autor:innen: 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
CESifo Working Paper No. 12325
Verlag: 
Munich Society for the Promotion of Economic Research - CESifo GmbH, Munich
Zusammenfassung: 
The experience of rapid economic growth and transition to high-income status in Asian countries has brought about significant improvements in material well-being and aggregate economic prosperity. This article examines the degree to which economic prosperity is the "great enabler" of social and environmental prosperity. We provide conceptual reasons why this is not necessarily the case and empirical evidence that the escape from the middle-income trap in three Asian high-income countries – Japan, Singapore and South Korea – was a mixed blessing, linked to challenges regarding social solidarity, personal and collective agency and environmental stewardship. Under these circumstances, traditional prescriptions for escaping the middle-income trap are insufficient. Without success in the social and environmental spheres, social fragmentation and environmental disruption is likely to occur, possibly leading to political instabilities, economic fragmentation and social conflict. This paper investigates this problem for the three Asian high-income countries, based on empirical measures of solidarity (S), agency (A), material gain (G) and environmental stewardship (E) that are consistent through time and across countries. On this foundation, policy recommendations are considered that are meant to run alongside the standard prescriptions to make the resulting package socially and environmentally acceptable.
Schlagwörter: 
middle-income trap
economic development
human flourishing
social cohesion
agency
environmental stewardship
growth
wellbeing
JEL: 
O10
O47
O53
I31
Q56
Q01
Dokumentart: 
Working Paper
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