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Schumpeterian Analysis of Economic Catch-up: Knowledge, Path-Creation, and the Middle-Income Trap
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Lee et al. as discussed by the authors used patent analysis to demonstrate that the secret lies in innovative systems at the firm, sector and country levels which promote investment in what the author calls "short-cycle" technologies and thereby create a new path different from that of forerunning countries.Abstract:
One of the puzzles about why some countries have stronger economic growth than others revolves around the so-called 'middle-income trap', the situation in which a country that has grown strongly gets stuck at a certain level. In this book, Keun Lee explores the reasons why examples of successful catching-up are limited and in particular, why the Asian economies, including China, have managed to move, or are moving, beyond middle-income status but economic growth has stalled in some Latin American countries. This is one of the first studies to demonstrate using patent analysis that the secret lies in innovative systems at the firm, sector and country levels which promote investment in what the author calls 'short-cycle' technologies and thereby create a new path different from that of forerunning countries. With its comprehensive policy framework for development as well as useful quantitative methods, this is essential reading for academic researchers and practitioners.read more
Citations
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Journal ArticleDOI
The East Asian miracle: Economic growth and public policy: By the World Bank. (New York: Oxford University Press for the World Bank, 1993. 389 pp. $19.95, paper.)
Journal ArticleDOI
Catch-up cycles and changes in industrial leadership:Windows of opportunity and responses of firms and countries in the evolution of sectoral systems ☆
Keun Lee,Franco Malerba +1 more
TL;DR: In this article, the authors propose a framework that aims to explain why successive changes in industry leadership (called also the catch-up cycle) occur over time in a sector and identify windows of opportunity that may emerge during the long-run evolution of an industry.
Book
The Innovation Paradox: Developing-Country Capabilities and the Unrealized Promise of Technological Catch-Up
Xavier Cirera,William F. Maloney +1 more
TL;DR: In this paper, the authors focus on three central determinants of innovation performance: (1) the critical complements to innovation investment needed to realize the high potential returns; (2) the range of firm capabilities required to undertake innovation and take it to market; and (3) the required government capabilities for implementing effective innovation policies.
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Entrepreneurial cyclical dynamics of open innovation
TL;DR: In this article, the authors address the following matters: What is the structure and mechanism of modern capital economic dynamics that motivates the growth limits of capitalism, and what is the modern economy can be modeled as Entrepreneurial Cyclical Dynamics of Open Innovation with three sub-economies such as market open innovation by SMEs and start-ups, closed open innovations by big business, and social open innovation.
Journal ArticleDOI
From Global Value Chains (GVC) to Innovation Systems for Local Value Chains and Knowledge Creation
TL;DR: In this paper, the authors presented a hypothesis that at the initial stage of growth by a latecomer, increased participation in the global value chain (GVC) is necessary to learn foreign knowledge and production skills, and that functional upgrading at middle-income stage requires effort to seek separation and independence from existing foreign-dominated GVCs, and might have to seek reintegration back into the GVC after establishing their own local value chains.
References
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TL;DR: In this paper, the authors argue that the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends is critical to its innovative capabilities.
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
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On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.