The most important issue for development centres on the debate
about the centrality of knowledge, technology and innovation to the
process of economic development. While this much is broadly agreed,
what is at issue is the precise mechanics of overcoming economic
development challenges in different contexts. At the heart of it
all is about how economies at different levels deploy the unending
streams of information and knowledge to developmental ends. In
time, the notion of income convergence between the poorer South and
the wealthy North has proved a mirage, while a new economic divide
has in fact occurred within the South itself, and as well, between
regions and within regions. The debate relating to latecomers is
thus framed in discussions about regions and countries that arrive
late to mastering industrialization in achieving economic
prosperity through the use of knowledge. In other words, a new
divide has emerged among the latecomers themselves, and with it,
greater conceptual complexity in the ways of our understanding of
the divergent ways of economic development. We have thus separated
"fast followers" and new "late comers."
This book enters this debate acutely aware of the complexity of
this process. The authors argue that economic development is
largely driven by innovation, concentrating on the dynamics of
process, product and organizational changes and how they are
embedded within specific and varied contextual institutions.
General
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