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The Paradox of Catching Up

In: The Paradox of Catching Up

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  • Li Tan

Abstract

The postwar experiences of the Soviet Union, the East Asian high-performing economies and China in the past century supported the historical observation that latecomers in economic development could succeed in industrialization or modernization by employing the state as a developmental instrument. This study suggests that the phenomenon of state-led economic development is derived from the large developmental differentials among countries that have created the informational advantages for the economies in relatively backward position. As the latecomers could obtain the economic information from the advanced countries to guide their own domestic production, the informational role of the domestic markets in these backward economies is greatly reduced, and correspondingly, the government becomes a powerful instrument in promoting economic development for the latecomers.

Suggested Citation

  • Li Tan, 2005. "The Paradox of Catching Up," Palgrave Macmillan Books, in: The Paradox of Catching Up, chapter 6, pages 163-172, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59807-2_6
    DOI: 10.1057/9780230598072_6
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    Cited by:

    1. Li Tan, 2013. "Market‐Supporting Institutions, Gild Organisations, and the Industrial Revolution: A Comparative View," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 53(3), pages 221-246, November.
    2. Aerni, Philipp, 2012. "Applying New Growth Theory To International Trade," Papers 415, World Trade Institute.
    3. W. R. Garside, 2012. "Japan’s Great Stagnation," Books, Edward Elgar Publishing, number 14624.

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