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The Art of Economic Catch-Up - Barriers, Detours and Leapfrogging in Innovation Systems (Paperback)
Loot Price: R811
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The Art of Economic Catch-Up - Barriers, Detours and Leapfrogging in Innovation Systems (Paperback)
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In his previous Schumpeter Prize-winning work, Lee analysed the
'middle-income trap', in which a developing country grows strongly
only to plateau at a certain point. Yet certain developing
countries, most significantly China, have managed to escape this
trap. Building on the conception of the ladder from developing to
developed countries being kicked way, this book suggests
alternative ways, such as 'leapfrogging', in which latecomers can
catch up with their forerunners. Providing policy solutions for
development challenges in non-technical terms, Lee frames his
theories with insightful and inventive allegories. In doing so, Lee
also accounts for the catch-up paradox, in which one cannot
conclusively catch-up if they are continually trying to follow the
path of those ahead. He argues that eventual catch-up and
overtaking require pursuing a path that differs from that taken by
forerunners. This highly original and accessible book will appeal
to students, scholars, practitioners, and anyone interested in
economic development and innovation.
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