View online<https://eventmaker.at/bmf/forum_finanz_world_development_report_2024/openlink.html> [Headerbild] Forum Finanz: World Development Report 2024 „The Middle-Income Trap“ Dear Madam or Sir, we would like to invite you to the following event: Forum Finanz: Presentation and discussion of the World Development Report 2024: "The Middle-Income Trap" Middle-income countries — home today to 6 billion people — are in a race against time. Many have set ambitious deadlines for themselves: reach high-income status within the next two or three decades. That will not be easy. Since the 1990s, only 34 middle-income economies have succeeded in that feat. The rest — 108 at the end of 2023 — have been stuck in “the middle-income trap”. Since 1970, the median income per capita of middle-income countries has never risen above 10 percent of the US level. Climbing to high-income status in today’s environment will be harder still — because of high debt and aging populations in developing countries and growing protectionism in advanced economies. The World Development Report 2024<https://openknowledge.worldbank.org/bitstreams/8dca4aff-e0f5-4865-b245-ec9c4583aa60/download> outlines how all developing economies can avoid the middle-income trap. Lower-middle-income countries must go beyond investment-driven strategies — they must also adopt modern technologies and successful business practices from abroad and infuse them across their economies. Upper-middle-income countries need to accelerate the shift to innovation, by pushing the global frontiers of technology. This requires reconfiguring economic structures governing enterprises, labor, and energy use — in ways that enable greater economic freedom, social mobility, and political contestability. Somik V. Lall, Senior Adviser to the World Bank Group Chief Economist and Coordinator of the World Development Report 2024, will present key findings from this year’s report at the BMF. The presentation will be followed by a panel discussion, which will reflect on the role of innovation for development, as well as the implications of past success stories for current middle-income economies, e.g. in Eastern and South-eastern Europe. The event will be held in English. We ask for registration until November 8 under the following link: REGISTER<https://eventmaker.at/bmf/forum_finanz_world_development_report_2024/openlink.html> Opening Remarks Harald Waiglein, Director General, Economic Policy and Financial Markets, Austrian Federal Ministry of Finance (BMF) Xiaoqing Yu, Country Director for the Western Balkans, World Bank Presentation Somik V. Lall, Senior Adviser to the Chief Economist and Coordinator of the World Development Report, World Bank Group Panel discussion Zuzana Zavarská, Economist, Vienna Institute for International Economic Studies (wiiw) Bernhard Dachs, Senior Scientist, Austrian Institute of Technology (AIT) Kaitlyn Chang, Impact Architect, Accenture Song Moderation Kurt Bayer, Economist and former Executive Director at the World Bank Group We look forward to your participation! Kind regards, Federal Ministry of Finance Date November 12, 2024 3:30pm - 5pm Venue Federal Ministry of Finance Johannesgasse 5 1010 Vienna Top Floor Privacy<https://eventmaker.at/forwardmailer/s33QPvqiNZgy2BmMnd2m0V457W0GjHU14hDaTQPRIJViKPYWIQod88HfJjz6PW8Zjer6N8OdQfbCfZaBzY0OlleMY20GsjYJlmM8UDZCQmlO2sosBDxMEGrJoHcmYoDz/4lwWoxnRsBEN6ux4hVaI6ANJg58sHIuiFoEj2Wabr8RqPmYi5CvDlYq6g8CpPoJtTdNU4SsbtPUyCxXQyhWodLMNx0fT4XaBIZnkIVN2c2a4PjdH6EnSqRu1x12XrQk2> | Legal Notice<https://eventmaker.at/forwardmailer/RYrAup9VJ4YHBKPzwSrRlUmLp8jC6kJKvke6lWxzWyE7up09dpvqzmRTGaZxIOzBXqfSgFgZhuZjoBtGfGvYqXQ6CsfCUoYKE6VNcyq1CJuF3RUws6pxbJkCJMjZJl9A/4lwWoxnRsBEN6ux4hVaI6ANJg58sHIuiFoEj2Wabr8RqPmYi5CvDlYq6g8CpPoJtTdNU4SsbtPUyCxXQyhWodLMNx0fT4XaBIZnkIVN2c2a4PjdH6EnSqRu1x12XrQk2> powered by BRAINTRUST-EventMaker<https://eventmaker.at/forwardmailer/Gy9sGlQxMl97wpOs4B1bKPkZ25BdtSh10nsydhi33PhvWRggGb2QbGTi0q3ZTeVoNFHlbzt3L3ne1PR2JoyzcQNnN9dPStXG3eAdXP41e6mvrhWtmvIDCX4JXcNo8v0i/4lwWoxnRsBEN6ux4hVaI6ANJg58sHIuiFoEj2Wabr8RqPmYi5CvDlYq6g8CpPoJtTdNU4SsbtPUyCxXQyhWodLMNx0fT4XaBIZnkIVN2c2a4PjdH6EnSqRu1x12XrQk2> [https://eventmaker.at/forwardmailer/tB51GzZuB68zQtFUghY6UOyJoPtZFdJ4jsg82xlI...]