BRICS or Bust?: Escaping the Middle-Income Trap

Once among the fastest developing economies, growth has slowed or stalled in Brazil, Russia, India, China, and South Africa. What policies can governments enact to jump-start the rise of these middle-income countries? Hartmut Elsenhans and Salvatore Babones argue that economic catch-up requires investment in the productivity of ordinary citizens.

Diverging from the popular narrative of increased liberalization, this book argues specifically for direct government investment in human infrastr...