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Economic Development and the Competitive Process

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  • Metcalfe, John S.
  • Ramlogan, Ronnie
  • Uyarra, E.

Abstract

The concepts of competition and its derivatives, competitiveness and competitive advantage feature as highly on the current development agendas and policy debates of developing countries as they do in the developed world, yet they are sufficiently opaque to make any discussion of the relationship between economic development and competition a matter to be negotiated with some difficulty. In this short essay we review some recent thinking on the connection between competition and development as a prelude to a study of wider concerns about innovation, income distribution, competition and development policy. The position we take is that the problems of competitiveness and economic development are isomorphic by virtue of being examples of the phenomenon of economic evolution. Economic evolution is a theory of how the world changes or rather how it changes in such an uneven fashion. We review ideas on the history of the concept of competition and go on to develop an evolutionary approach to competition and competitive advantage. We then review a number of important contributions to the development literature including those associated with the idea of innovation and technology policy. We conclude that competition is central to the development process but that competition is a process not a state of affairs. Consequently competition policy is not reducible to a simpleminded concern with the exploitation of market power, rather in its fundamentals it is a matter of the creativity of an economic system.

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Bibliographic Info

Paper provided by University of Manchester, Institute for Development Policy and Management (IDPM) in its series Centre on Regulation and Competition (CRC) Working papers with number 30612.

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Date of creation: 2002
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Handle: RePEc:ags:idpmcr:30612

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Keywords: International Development;

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  1. Meyer-Stamer, Jorg, 1995. "Micro-level innovations and competitiveness," World Development, Elsevier, vol. 23(1), pages 143-148, January.
  2. Lall, Sanjaya, 2001. "Competitiveness Indices and Developing Countries: An Economic Evaluation of the Global Competitiveness Report," World Development, Elsevier, vol. 29(9), pages 1501-1525, September.
  3. Ajit SINGH, 2002. "Competition And Competition Policy In Emerging Markets: International And Developmental Dimensions," G-24 Discussion Papers 18, United Nations Conference on Trade and Development.
  4. Loasby, Brian J, 1982. "The Entrepreneur in Economic Theory," Scottish Journal of Political Economy, Scottish Economic Society, vol. 29(3), pages 0223, November.
  5. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
  6. Elias Khalil, 2000. "Survival of the Most Foolish of Fools: The Limits of Evolutionary Selection Theory," Journal of Bioeconomics, Springer, vol. 2(3), pages 203-220, October.
  7. Kurz,Heinz D. & Salvadori,Neri, 1995. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521443258, October.
  8. Kirkpatrick, Colin, 2001. "Regulatory Impact Assessment in Developing Countries: Research Issues," Centre on Regulation and Competition (CRC) Working papers 30640, University of Manchester, Institute for Development Policy and Management (IDPM).
  9. George J. Stigler, 1957. "Perfect Competition, Historically Contemplated," Journal of Political Economy, University of Chicago Press, vol. 65, pages 1.
  10. Paul J. McNulty, 1967. "A Note on the History of Perfect Competition," Journal of Political Economy, University of Chicago Press, vol. 75, pages 395.
  11. Knight, Frank H., 1923. "The Ethics of Competition," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 37, pages 579-624, August.
  12. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
  13. Kenny, Charles & Williams, David, 2001. "What Do We Know About Economic Growth? Or, Why Don't We Know Very Much?," World Development, Elsevier, vol. 29(1), pages 1-22, January.
  14. Lall, Sanjaya & Teubal, Morris, 1998. ""Market-stimulating" technology policies in developing countries: A framework with examples from East Asia," World Development, Elsevier, vol. 26(8), pages 1369-1385, August.
  15. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna.
  16. Shepherd, William G, 1984. ""Contestability" vs. Competition," American Economic Review, American Economic Association, vol. 74(4), pages 572-87, September.
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