£28.00
Art of Economic Catch-Up
Barriers, Detours and Leapfrogging in Innovation Systems
Previous Work and Concept of the Middle-Income Trap
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.
Alternative Development Strategies
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.
Policy Solutions and Theoretical Framework
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.
Conclusion and Audience
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.
