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Development EconomicsFrom the Poverty to the Wealth of Nations$
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Yujiro Hayami and Yoshihisa Godo

Print publication date: 2005

Print ISBN-13: 9780199272709

Published to Oxford Scholarship Online: October 2005

DOI: 10.1093/0199272700.001.0001

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Patterns and Sources of Technological Progress

Patterns and Sources of Technological Progress

(p.161) 6. Patterns and Sources of Technological Progress
Development Economics

Yujiro Hayami

Yoshihisa Godo

Oxford University Press

The institutional conditions by which appropriate technology and human resources are effectively combined with capital accumulation for promoting industrial development are examined in this chapter. Accumulation of intangible capital created by the government’s investment in scientific research and school education is critically important in the initial phrase of industrialization. Still it is a necessary but not the sufficient condition. Sustained industrial development requires the organization of competitive markets that facilitate innovations by Schumpeterian entrepreneurs.

Keywords:   education, factor-saving bias, innovation, Kuznets, markets, Marx, research, Schumpeter, technology borrowing

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