Backward advantage

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Backward advantage
InitiatorAlexander Gerschenkron[1]
Introduced1952
Backward advantage
Hanyu Pinyin
Hòufā yōushì

The backward advantage

sociologist Thorstein Veblen who developed the concept of the "advantage of backwardness" in his essay Imperial Germany and the Industrial Revolution, which was published in 1915. [7]

The backward advantage implies that a still-developing country can take advantage of the technology/industry gap with a developed country by implementing a new technology or venturing into an industry that is new to its economy but mature in the developed country. In this case, the innovative costs for still-developing countries will be significantly lower than for developed countries that need to invent or innovate.[8] But when still-developing countries reach a higher stage of development, and when the cost of production factors gradually rises, upgrades are necessary to cope with the rise. Otherwise, these countries will fall into the middle income trap.[9]

Starting from around 2000, economists

Lin Yifu had a famous academic debate about "backward disadvantage" and "backward advantage", [10] and their debate was essentially about whether the economic development of late-developing countries should take the path of institutional imitation or technological imitation.[11]

See also

References

  1. ISBN 978-981-10-7422-6
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  2. ISBN 978-90-474-2699-8
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  3. ISBN 978-1-136-95903-5
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  4. ISBN 978-1-135-25580-0
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  5. ISBN 978-0-691-17714-4
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  6. ISBN 978-1-84064-231-5
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  7. ^ "'The Fly Swatter' - The New York Times". The New York Times. Jul 14, 2002.
  8. ^ Justin Yifu Lin and Volker Treichel (May 5, 2014). "Making industrial policy work for development - ILO" (PDF). International Labour Organization.
  9. ^ "Exorcising the spectre of slow growth". The Borneo Post. April 26, 2015.
  10. ISBN 978-7-5095-0728-5
    .
  11. ISBN 978-986-492-705-0
    .
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