scholarly journals Catch-Up Development VS. Forward-Looking Development: from Theoretical Models to Developmental State Practices

2021 ◽  
Vol 12 (4) ◽  
pp. 060-070
Author(s):  
Sergey N. Levin ◽  
◽  
Kirill S. Sablin ◽  
Keyword(s):  
Global Economy ◽  
Theoretical Models ◽  
Developmental State ◽  
Optimal Configuration ◽  
Market Failures ◽  
Success Stories ◽  
Cultural Specificity ◽  
Scientific Project ◽  
Catch Up ◽  
Forward Looking

The presented article was carried out within the framework of scientific project dedicated to Russia's participation in the export and import of institutions. The solid question arose that the conditions and specificity of Russia's place in these processes are related to its position in the global world economy. These problems are considered within the framework of competing concepts of catch-up and forward-looking development in the economic literature. Comparative characteristics of methodological foundations, provisions and normative recommendations of these concepts are highlighted in the article. The analysis shows that there is no ground to justify the absolutization of their differences. Representatives of competing approaches came to the conclusion that it was necessary to search for the optimal configuration of imported and genuine institutions at the level of specific problems of development of countries that were largely on the periphery of the modern global economy. This configuration provides productive orientation of economic actors and creation of favorable conditions for the development of Schumpeterian type innovations. The solution of these tasks is linked with the formation and activities of developmental state. The functions of such a state are fundamentally different from compensating market failures that is characteristic of developed market economy. Such a state acts as a subject that forms the basic institutions of the economic system. Fundamental importance is its ability to ensure the combination of selective imports of institutions with the modification of genuine institutions that have historical and cultural specificity. Characteristics of the reasons and conditions for the successful solution of these tasks by countries such as Japan, Taiwan and South Korea, are highlighted in the article. The success stories are compared to the experience of partial failure of developmental state in Brazil. The fulfilled study is of interest not only for positive analysis, but also for the elaboration of normative recommendations for the formation of optimal configuration of imported and genuine institutions in contemporary Russia.

Europe's Growth Champion

2018 ◽  
Author(s):  
Marcin Piatkowski
Keyword(s):  
Eastern Europe ◽  
Central And Eastern Europe ◽  
High Income ◽  
Lessons Learned ◽  
The West ◽  
Success Stories ◽  
Catch Up ◽  
Inclusive Society ◽  
First Time ◽  
Global Growth

The book is about one of the biggest economic success stories that one has hardly ever heard about. It is about a perennially backward, poor, and peripheral country, which over the last twenty-five years has unexpectedly become Europe’s and a global growth champion and joined the ranks of high-income countries during the life of just one generation. It is about the lessons learned from its remarkable experience for other countries in the world, the conditions that keep countries poor, and challenges that countries need face to grow and become high-income. It is also about a new growth model that this country—Poland—and its peers in Central and Eastern Europe and elsewhere need to adopt to continue to grow and catch up with the West for the first time ever. The book emphasizes the importance of the fundamental sources of growth—institutions, culture, ideas, and leaders—in economic development. It argues that a shift from an extractive society, where the few rule for the benefit of the few, to an inclusive society, where many rule for the benefit of many, was the key to Poland’s success. It asserts that a newly emerged inclusive society will support further convergence of Poland and Central and Eastern Europe with the West and help sustain the region’s Golden Age, but moving to the core of the European economy will require further reforms and changes in Poland’s developmental DNA.

Monetary Policy and the Future of Central Banking

2021 ◽  
pp. 9-14
Author(s):  
Mitsuhiro Furusawa
Keyword(s):  
Monetary Policy ◽  
World War Ii ◽  
Interest Rates ◽  
Global Economy ◽  
Commodity Prices ◽  
Central Banking ◽  
African Countries ◽  
Advanced Economies ◽  
Policy Frameworks ◽  
Forward Looking

The chapter highlights the state of monetary policy in Africa and explores the challenges that central banks face as they address the increasingly complex forces at work in the global economy. It sequences the evolution of monetary policy from the time of World War II under the Bretton Woods system to the more recent forward-looking monetary policy in advanced economies and relates it to influencing the evolution of monetary policy frameworks in Africa. Some challenges affecting African countries are identified, including the collapse of commodity prices, persistent high interest rates spreads, and limitations of high frequency data that constrain monetary authorities’ abilities to take corrective actions in a timely manner. The chapter concludes by providing seven principles towards increasing the effectiveness of monetary policy for countries seeking to move towards forward-looking monetary policy frameworks.

From Learning to Creating: Biotechnology and the Postindustrial Developmental State in Korea

2004 ◽  
Vol 4 (3) ◽  
pp. 491-517 ◽  
Keyword(s):  
South Korea ◽  
Price Competition ◽  
Developmental State ◽  
Information And Communications Technologies ◽  
South Korean ◽  
Communications Technologies ◽  
Manufacturing Sectors ◽  
Catch Up ◽  
Transformative Process ◽  
Capital Development

South Korea is currently undergoing a process of industrial restructuring. As competitors in the Asian region have begun to catch up—in terms of technological know-how, investment mobilization, price competition, and human capital development—advanced Asian economies such as South Korea's have had to shift their industrial focus away from conventional manufacturing sectors toward postindustrial sectors including biotechnology, nanotechnology, and advanced information and communications technologies. As such, the ongoing processes of postindustrial restructuring in South Korea have involved a transition from the industrial learning paradigm to a new knowledge creation paradigm where technology innovation, rather than technology borrowing, is key. This article examines this transformative process in the area of biotechnology and bioindustry development. It specifically looks at how the South Korean developmental state has begun to reinvent itself in order to meet the challenges of innovation-driven industrialization.

scholarly journals Polskie firmy na tle zagranicznych korporacji w dobie globalizacji

2006 ◽  
Vol 9 ◽  
pp. 170-180
Author(s):  
Stanisław Sala
Keyword(s):  
Global Economy ◽  
Transnational Corporations ◽  
Developed Countries ◽  
The Other ◽  
Economic Power ◽  
Less Developed Countries ◽  
Dynamic Development ◽  
Catch Up ◽  
The One ◽  
Qualitative Changes

This article presents the role and the importance of Polish Transnational Corporations (TC) to global economy. Dynamic development of TC can be observed since the beginning of 70s of the 20thcentury. Nowadays TC have huge economic power which generates large profits. Many times incomes of TC are bigger than the value of GDP of less developed countries. Activity of TC is very controversial. On the one hand, present TC should be treated as an answer to qualitative changes which have taken place mainly in the sphere of telecommunication and means of transport, on the other hand, they are the motive power of these changes.Polish corporations are very small in comparison with the foreign ones. We have noticed a great disproportion of worth in comparison with corporations which are on the list of the global 1000 or 2000 biggest-worth corporations on the rising market. If Polish corporations want to catch up with the foreign ones, they must considerably increase the speed of their development.

scholarly journals Education Hub Strategy and Policy in the UAE: Creating a Cultural Space for Higher Education and Research

2019 ◽  
Author(s):  
Marvin Erfurth
Keyword(s):  
Higher Education ◽  
United Arab Emirates ◽  
Global Economy ◽  
Cultural Space ◽  
The Public ◽  
Strong Focus ◽  
Education Hub ◽  
Catch Up ◽  
Physical Elements ◽  
Time Lead

The United Arab Emirates (UAE) currently pursues an Education Hub strategy that aims at increasing higher education and research capacities and aligning these with its economic priorities for achieving advantages in the global economy. This strategy presently leaves the UAE in a position of playing “catch- up” and fosters higher education as a business, making it less accessible to the public and social mobility harder. The foundation of this current strategy is a strong focus on the geographic and physical elements of creating a Hub, which narrows its scope and impact. To exploit the already created capacities and decisions made, the current strategy’s focus and impact should be broadened by creating an accessible cultural space for education and research. This might, over time, lead to the formation of a reputed location for higher education and research by virtue of academic vigor that, importantly, also embodies the UAE’s uniqueness and needs.

The Political Economy of Ethiopia from the Imperial Period to the Present

2019 ◽  
pp. 32-47
Author(s):  
Christopher Clapham
Keyword(s):  
Political Economy ◽  
Global Economy ◽  
Political Power ◽  
Developmental State ◽  
The State ◽  
Late Nineteenth Century ◽  
Key Factors ◽  
Economic Exploitation ◽  
Rapid Economic Growth ◽  
Imperial Period

Ethiopia’s political economy has historically been shaped by two key factors: the strength of the state, and the divergence between the sources of political power, concentrated in the northern highlands, and of economic power, concentrated in the southern and western regions incorporated in the late nineteenth century. These features were intensified under both imperial (1941–74) and revolutionary (1974–91) regimes that used a greatly strengthened state to promote development programmes that rested on the economic exploitation of politically marginalized regions. The EPRDF regime, in office since 1991, has addressed these problems through a federal system designed to rectify historical imbalances in political power, combined with a ‘developmental state’ that drew on East Asian models to generate rapid economic growth through incorporation into the global economy, while retaining a strong role for the state. Despite the impressive successes of this programme, problems derived from the historical structure of Ethiopian statehood inevitably remain.

Globalization and Inequality

2008 ◽  
Vol 7 (4) ◽  
pp. 415-433 ◽  
Author(s):  
Erich Weede
Keyword(s):  
Economic Growth ◽  
Global Economy ◽  
Economic Freedom ◽  
Human Beings ◽  
Special Interests ◽  
The Poor ◽  
The Us ◽  
The World ◽  
Catch Up ◽  
Economic Growth Rates

AbstractGlobalization may be defined by a worldwide division of labor and increasing trade between nations. This is inconceivable without expanding economic freedom across the world. Free trade and globalization increase competition, productivity, and economic growth rates. In spite of increasing inequality within many large economies – including the US, China, and Russia – inequality between human beings and households has been reduced. Since catch-up growth in big Asian economies contributes to Schumpeterian “creative destruction,” it necessitates rich economies to adapt, to become ever more entrepreneurial and innovative. This generates resentment and strengthens protectionist excesses which might serve some special interests. But protectionism harms the global economy, the prospects of the poor to grow out of poverty and, worse still, likely increases the risk of war.

Managing Global Competitiveness

2008 ◽  
Vol 43 (3) ◽  
pp. 52-93
Author(s):  
A.N. Sarkar
Keyword(s):  
Global Economy ◽  
Social Infrastructure ◽  
Global Competitiveness ◽  
Developed Economies ◽  
Depth Analysis ◽  
World Economic ◽  
Global Competitiveness Index ◽  
Catch Up ◽  
Asian Economy ◽  
Made In

With the phenomenal growth in Indian economy – particularly in past one decade, following the processes of globalization and economic liberalization, India is now better poised to integrate the national economy with the Asian economy on one hand – the global economy, on the other. Whereas, the Global Competitiveness Index of the World Economic Forum points towards a huge potential for Indian all-round economic growth along with other BRIC's and Asian nations in the next decade, India has still to go a long way to catch-up with the developed economies; especially in terms of creation of industrial and social infrastructure, alternate energy, R&D, HRD, etc. An attempt has been made in the paper to make a comprehensive review and in-depth analysis of performances of various sectors of the economy where India has demonstrated global leadership, namely in Telecom and ITeS, Textiles, Gems & Jewllery, Automotive Engineering, Manufacturing, Pharma, Biotechnology, Agribusiness, Retails, Oil & Natural Gas, Energy & Power, Infrastructure, Banking & Insurance, Medico-Tourism, Hospitality, Entertainment & Media, Technical & Management Education, etc. with a view to suggesting future strategies to be globally competitive.

scholarly journals “Non-Catch-up Development” of Africa. Economist’s observations on forecasts, statistical manipulations, demographic romanticism and rejuvenation of elites

2019 ◽  
pp. 5-17
Author(s):  
Leonid Fituni
Keyword(s):  
Global Economy ◽  
World Order ◽  
Demographic Dividend ◽  
Statistical Estimates ◽  
Long Run ◽  
African Youth ◽  
Catch Up ◽  
Restrictive Measures ◽  
First Time

The article analyzes the long-run reliability and sustainability of the basic arguments referred to in assessing the upward development of Africa in the 21st century. The author argues that the ongoing changes in the global economy and the nature of the current transformation of the world order put in doubt that the “catch-up development” of the continent will advance exactly as foreseen by the basic African development strategies and as it is customary to present them in scientific literature. He supports his assessment by showing that some of the initial statistical estimates and projections of existing trends may have been based on a not completely correct statistical basis. Much attention is paid to a more realistic approach to the role of the “demographic dividend” in the future. The article systematizes and classifies the fundamental reasons why such miscalculations occurred and what needs to be taken into account in order to obtain to more estimates and more realistic scenarios of future development. The author insists that the “demographic dividend” does not inevitably arise by itself. For the favorable effects of the demographic dividend to occur, it is necessary to create high-quality, more productive jobs. Only in this case can the expected positive social and economic shifts follow, including the growth of the African middle class. For the first time, the economic problems of catch-up development are linked to the process of “rejuvenation of the elites” that is developing and being stimulated by a number of external players. For these purposes, external state and non-state actors may use sanctions and other restrictive measures. The author provides a classification and description of three types of behavioral patterns of African youth in politics. In African conditions understanding of those issues is crucial since young people constitute the majority of the population in a huge number of countries on the continent.

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