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Innovation, imitation and growth in a changing world economy
Author(s) -
Sentance Andrew,
Levine Paul
Publication year - 1996
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1996.tb00075.x
Subject(s) - imitation , world economy , economics , east asia , economy , development economics , economic geography , china , political science , law , psychology , social psychology
The rapid growth of East Asia, which has had such a dramatic impact on the world economy, is widely seen as a process of “catch‐up” in which poorer nations grow rapidly assimilating Western and Japanese “know‐how”. However, this pattern is now changing. In particular, Korea and Taiwan are becoming centres of innovative activity. In this article, Michael Chui, Paul Levine, Joe Pearlman and Andrew Sentance analyse these developments. They argue that evidence of increasing innovation outside the West will be beneficial to world growth over the longer term and should be welcomed, not regarded as a threat.