Böcker av Keun (Seoul National University) Lee

Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question is whether to follow the trajectories of present-day rich countries or seek out different, new trajectories. Although this is a fundamental question, scholars offering mainstream prescriptions have not sufficiently explored it. Drawing on extensive empirical studies of firms and industries, Innovation and Development Detours for Latecomers proposes an effective alternative to prevailing development thinking. It presents a rich menu of development pathways, including a new role for Schumpeterian states whereby they do not follow the paths of technological development already taken by advanced countries. Rather, they can skip certain stages and even create their own detours thereby leapfrogging advanced countries in both manufacturing and service sectors. This title is also available as Open Access on Cambridge Core.

Lee provides policy solutions for development challenges in non-technical terms, instead framing them with insightful and inventive allegories. The Art of Economic Catch-Up will appeal to anyone interested in innovation, 'leapfrogging', and economic development.

Written for academic researchers, graduate students, policy-makers and practitioners, this book analyzes the reasons why some Asian countries have been able to catch up successfully with the most advanced economies of the world while other countries appear to get trapped at a middle-income level in economic development.