The problem of middle income trap in the context of the Polish economy

Abstract

Middle income trap is a phenomenon that occurs at the time of entry of the economy in the cycle of overheating, which in turn leads to economic stagnation or even recession in developing countries. This phenomenon is most common among the developing countries aspiring to catch up with developed countries in economic development. The purpose of this article is to analyze the degree of risk of the Polish economy of middle income trap. Furthermore, in the article it has been indicated action of the economic authorities in Poland, which are unavoidable in order not to fall into middle income trap. To achieve this objective the following research methods were used: a review of the scientific literature and methods of statistical presentation of economic phenomena. The paper identified a number of factors which pose a real threat of falling into the middle income trap in Poland. The originality of this study lies in noticing and highlighting the significance of the middle income trap problem for the Polish economy.