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From technological catch-up to innovation-based economic growth: South Korea and Taiwan compared

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  • Jenn-Hwan Wang

Abstract

This paper sets out to analyse the divergent models pursued by South Korea and Taiwan in regard to technological catching-up and their ongoing transition towards innovation-based economies. It is found that South Korea's former high-debt and chaebol-dominated model inclined it to pursue a Schumpeterian scale-based technological development, while Taiwan's former pro-stability, small- and medium-sized-enterprise (SME)-based model tended to favour its emphasis on a neo-Marshallian network-based technological development. It will be argued that the state's approach to economic liberalisation and firms' demand for capital for technological upgrading are the major factors that have underpinned the adjustment efforts of these two countries.

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  • Jenn-Hwan Wang, 2007. "From technological catch-up to innovation-based economic growth: South Korea and Taiwan compared," Journal of Development Studies, Taylor & Francis Journals, vol. 43(6), pages 1084-1104.
    • Handle: RePEc:taf:jdevst:v:43:y:2007:i:6:p:1084-1104
    DOI: 10.1080/00220380701466609
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    1. Michael Hobday, 1995. "Innovation In East Asia," Books, Edward Elgar Publishing, number 226.
    2. Alice H. Amsden & Wan-wen Chu, 2003. "Beyond Late Development: Taiwan's Upgrading Policies," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011980, April.
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    Cited by:

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    3. Kalinowski, Thomas, 2013. "Crisis management and the varieties of capitalism: Fiscal stimulus packages and the transformation of East Asian state-led capitalism since 2008," Discussion Papers, Project Group Modes of Economic Governance SP III 2013-501, WZB Berlin Social Science Center.
    4. Lee, Zong-Rong, 2021. "A brief review of the economic sociology of Taiwan's development," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 23(1), pages 28-33.
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