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Public debate in Nigeria on the country's progress since its return to democracy in 1999 has been dominated by two seemingly opposite themes. The first theme is the strong growth performance of the non-oil economy. This success has been marked by sharp increases in agriculture, trade, and construction and by the emergence of new industries in the financial, telecommunications, and entertainment sectors, supported by sound macroeconomic policies and structural reforms. The second, opposing theme is the seeming failure of Nigeria's much improved economic performance to reduce unemployment,...

This book discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from Chinas rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to help Latin America escape the middle-income trap. Countries in Latin America and the Caribbean are caught in a middle-income trap due to their inability to structurally upgrade from low value-added to high value-added products. Governments in Latin America and the Caribbean should intervene in industries in...