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Industrial Policy and DevelopmentThe Political Economy of Capabilities Accumulation$
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Mario Cimoli, Giovanni Dosi, and Joseph E. Stiglitz

Print publication date: 2009

Print ISBN-13: 9780199235261

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199235261.001.0001

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Emulation versus Comparative Advantage: Competing and Complementary Principles in the History of Economic Policy

Emulation versus Comparative Advantage: Competing and Complementary Principles in the History of Economic Policy

Chapter:
(p.79) 4 Emulation versus Comparative Advantage: Competing and Complementary Principles in the History of Economic Policy
Source:
Industrial Policy and Development
Author(s):

Erik S. Reinert

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199235261.003.0004

This chapter outlines a broad historical interpretation of industrial policies in modern history, focusing on technological learning, synergies, and increasing returns. Throughout all experiences of catching up, successful strategies always involved a principle of emulation involving explicit measures explicitly aimed to acquire knowledge in increasing returns activities. Only later, after the success of industrialization, countries can effort forms of market governance relying on the principle of comparative advantage as they emerge from the dynamics of international specialization and trade.

Keywords:   emulation, catching up, increasing returns, comparative advantages, industrialization, international specialization

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