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By M. Storper

Drawing at the instance of late-developing international locations, specifically from East Asia, catching up with confirmed powers, the authors handle a brand new formula of business coverage for latecoming, semi-industrialized international locations. With contributions from a number of the best-known economists at the moment operating during this sector, the e-book might be a helpful advisor for economists and foreign policy-makers attracted to improvement concerns.

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Extra resources for Latecomers in the Global Economy (Industrial Economic Strategies for Europe)

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International competition through FDI increased considerably during the merger and acquisition waves of the 1980s and 1990s, leading to an increase in intraindustry and intrabloc FDI, and causing international concentration in many industries to rise. 2 illustrates the role of FDI in the process of globalization by presenting the main monetary indicators of FDI in relation to other measures of economic activity (GDP, investment). 7 trillion. Given the many caveats related to FDI figures in particular (Cantwell 1992a; Bellak 1998), these figures should be treated as trend indicators rather than as absolute figures.

The principal categories of countries and regions would include: • • • • large, wealthy, and technologically endowed; small, wealthy, and technologically endowed; large, semi-industrialized latecomers; small, semi-industrialized latecomers (“less favored” in the current EU jargon); and • poor, non-industrialized. These categories have some descriptive utility, but they do not lead anywhere in particular with respect to strategies for product-based technological learning. Their principal categories—size and technology endowments—are most relevant to large, capital- and technology-intensive industries, but even there, many small rich countries have apparently broken the size rule (Holland with Philips, Sweden with Ericsson), and many big countries have failed in spite of it (France with Thomson and Bull).

But assessments cannot be left entirely to the experts. By definition, the talk to which we refer in the previous section can have no hope of setting conventions and relations into motion if it is a mere pretext for ratifying assessments already made by technocrats. It is likely that talk will reveal information to which technocrats otherwise have no access. STORPER exclusively on experts is the key to avoiding the circularity problem, where those who talk are only talking about something that has already been decided by the technocrats.

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