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This book examines the spectacularly successful economies of East Asia, Japan and South Korea. The comparison of the 'catching-up' process in Japan and South Korea includes studies of the iron and steel and semi-conductor industries. The author shows the difficulties involved in trying to detect general patterns of development, as both countries appear to respond to different technological imperatives. As a result general models of development should be treated with caution, given the need to consider different historical and institutional contexts.
- Sales Rank: #2366267 in eBooks
- Published on: 2013-05-13
- Released on: 2013-05-13
- Format: Kindle eBook
Review
..."the book is a useful stimulus to the continuing discussion of late development's role in the international political economy."
-"The Journal of Asian Studies
From the Back Cover
Is 'backwardness' a disadvantage? Alexander Gerschenkron developed a model of economic development in which less-developed countries are not necessarily at a disadvantage to more advanced countries. The application of new strategies and the emergence of new institutions could systematically compensate for inadequate supplies of capital, skilled labour, entrepreneurship and technology found in the more advanced economies. With this in mind, The Economics of the Latecomers attempts to explicate the 'catching-up' process of the most spectacularly successful economies of East Asia, Japan and South Korea. Combining insights from economic history, development economics and the economics of technology, the book emphasises the need for historical models to understand historical processes. This perspective enables the author to demonstrate the limitations of neo-Schumpeterian approaches and the New Institutional Economics as means of analysing the development process.
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