Economic Catch-up and Technological Leapfrogging The Path to Development and Macroeconomic Stability in Korea
The Path to Development and Macroeconomic Stability in Korea
This book elaborates upon the dynamic changes to Korean firms and the economy from the perspective of catch-up theory. The central premise of the book is that a latecomer’s sustained catch-up is not possible by simply following the path of the forerunners but by creating a new path or ‘leapfrogging’. In this sense, the idea of catch-up distinguishes itself from traditional views that focus on the role of the market or the state in development.