Learning in the Village Economy of Denmark. The role of Institutions and Policy in Sustaining Competitiveness
AbstractThe benefits of an international division of labour is never illustrated more clearly than in small developed nations like Denmark. Without many natural resources such countries can never be self sufficient and they need access to foreign markets in order for their firms to specialise and utilize economics of scale. The specialisation chosen is mainly in low-tech goods, where the risk of sudden domestically damaging changes in technology or demand are relatively small. Besides such general features of small developed nations, the Danish case has some special characteristics, which distinguishes it from many other nations and regions. One important feature is the century-old, deep-rooted egalitarian beliefs of the society which during the last century has intermixed with the growth of the public sector in shaping not only the welfare state, but also a strongly consensus-seeking political system - the negotiated economy - incorporating all major groups in the economy. Recently, the development towards a knowledge based world economy has increased the importance of another feature with an small egalitarian country: the kind of trust-relations, that come into existence, when everyone in an industry has known everybody else through many years. The international industrial competitiveness of the country's vast majority of small, export oriented firms are not only favoured by a reasonable adequate macro-economic policy but further enhanced by the ease in the exchange of information resulting from established trust-relations.
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Bibliographic InfoPaper provided by DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies in its series DRUID Working Papers with number 96-6.
Date of creation: 1996
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Web page: http://www.druid.dk/
International competitiveness; small nations; economic development; learning economy; informal institutions;
Find related papers by JEL classification:
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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