Unexpected Prosperity: How Spain Escaped the Middle Income Trap

Only a handful of economies have successfully transitioned from middle to high income in recent decades. One such case is Spain. How did it achieve this feat? Despite its relevance to countries that have yet to complete that transition, this question has attracted only limited attention. As a result, Spain's development into a prosperous society is a largely under-reported and often misunderstood success story. Unexpected Propserity takes a different look at the questions that usually frame...