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n African Journal of Science, Technology, Innovation and Development - Schumpeterian Analysis of Economic Catch-up: Knowledge, Path-creation, and the Middle-income Trap, Keun Lee : book review

Volume 6, Issue 2
  • ISSN : 2042-1338
  • E-ISSN: 2042-1346
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Abstract

The concepts of learning economy, knowledge economy and innovation-driven growth are becoming more widespread in general development discourse in large measure through expansion of the field of innovation studies, which grew out of evolutionary economics but is now more explicitly interdisciplinary. As part of this scholarly tradition, the subarea of 'catch-up' studies continues to make a significant contribution to what low- and middle-income countries could to grow their economies in a sustained manner. In particular, it provides both empirical evidence and conceptual insights into what the few countries that have successfully moved from low income to high income status in the last 50 years or so actually did to arrive there. At a time when we hear of the much-vaunted high levels of growth of a number of African countries, which is due to increased demand for their raw materials, the book under review provides a stark warning that such growth may be transient and too vulnerable to the vagaries of the global market, rather than being reflective of a more self-determining growth trajectory that is based on the development of their own technological capabilities.

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/content/aa_ajstid/6/2/EJC160373
2014-01-01
2019-10-23

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