Schumpeterian Analysis of Economic Catch-up

Keun Lee is a Professor of Economics at the Seoul National University and Director of the Center for Economic Catch-up. He is a globally recognized expert on the economics of catch-up and Asian economies. Professor Lee is also a member of the UN's Committee for Development Policy, a co-editor of the journal Research Policy and a member of the governing board of Globelics, as well as Asia-Pacific Innovation Network.

• Foreword John A. Mathews; Preface; Part I. Introduction and Perspectives: 1. Introduction; 2. Knowledge as a key factor for economic catch-up; Part II. Empirical Analysis at Three Levels: 3. Knowledge and country-level catch-up; 4. Knowledge and sector-level catch-up: Asia versus Latin America; 5. Knowledge and firm-level catch-up: Korean versus US firms; Part III. Toward a Theory and How to Escape the Trap: 6. Toward a knowledge-based theory of economic catch-up; 7. How to build up technological capabilities to enter short-cycle technology sectors; 8. Catching-up and leapfrogging in China and India; Part IV. Technological Turning Points and Conclusion: 9. Hypothesizing a theory of technological turning points; 10. Summary and concluding remarks; Appendix tables; Notes; Bibliography; Index.

'Based on convincing theoretical and empirical analyses, Professor Lee argues that Korea and Taiwan's success hinges on their shift, after reaching middle-income status in the 1980s, to specialize on shorter cycle technology-based sectors, which rely less on existing technologies, allow their economies to leverage the greater opportunities that arise from the emergence of new technologies, and enable them to continue the catching up process. This book is original, makes important contributions to the development literature, and should be read by anyone concerned about how to help a country overcome the middle-income trap.' Justin Yifu Lin, Peking University and former Chief Economist, The World Bank