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From technological catch-up to innovation-based economic growth : South Korea and Taiwan compared

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  • From technological catch-up to innovation-based economic growth
  • Wang, Jenn-Hwan
  • Elsevier Ltd.


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Title From technological catch-up to innovation-based economic growth
Similar Titles
Sub Title

South Korea and Taiwan compared

Material Type Articles
Author(English)

Wang, Jenn-Hwan

Publisher

[London]:Elsevier Ltd.

Date 2005-12
Journal Title; Vol./Issue The Journal of Development Studies:vol. 43(issue. 6)
Pages 22
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Macroeconomics
Economy < Financial Policy
Holding National Chengchi University

Abstract

This paper sets out to analyse the divergent models pursued by South Korea and Taiwan in regard to technological catching-up and their ongoing transition towards innovation-based economies. It is found that South Korea’s former high-debt and chaebol-dominated model inclined it to pursue a Schumpeterian scale-based technological development, while Taiwan’s former pro-stability, small- and medium-sized-enterprise (SME)-based model tended to favour its emphasis on a neo-Marshallian network-based technological development. It will be argued that the state’s approach to economic liberalisation and firms’ demand for capital for technological upgrading are the major factors that have underpinned the adjustment efforts of these two countries.