Art of Economic Catch-Up: Barriers, Detours and Leapfrogging in Innovation Systems

Lee's book explores how latecomers can catch up with forerunners by offering policy solutions for development challenges in non-technical terms. He argues that eventual catch-up and overtaking require pursuing a path that differs from that taken by forerunners, using insightful and inventive allegories to frame his theories.

Format: Paperback / softback
Length: 300 pages
Publication date: 16 May 2019
Publisher: Cambridge University Press

Lee's previous Schumpeter Prize-winning work delved into the intricate dynamics of the middle-income trap, a phenomenon wherein a developing country experiences robust growth only to stagnate at a certain point. However, a select few developing nations, notably China, have successfully navigated this predicament. Building upon the notion of a ladder leading from developing to developed countries being displaced, this book presents alternative strategies, such as "leapfrogging," which enable latecomers to surpass their predecessors. By offering policy solutions for development challenges in non-technical terms, Lee frames his theories with insightful and imaginative allegories. Moreover, he addresses the catch-up paradox, which suggests that continuous pursuit of the path followed by forerunners hinders definitive catch-up. He contends that eventual catch-up and overtaking necessitate a divergent path from that taken by forerunners. This groundbreaking and accessible book captivates students, scholars, practitioners, and anyone with a keen interest in economic development and innovation.

Weight: 494g
Dimension: 154 x 227 x 13 (mm)
ISBN-13: 9781108460705