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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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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 June 2021

Latecomer Entrepreneurship: A Policy Perspective

Latecomer Entrepreneurship: A Policy Perspective

(p.470) 18 Latecomer Entrepreneurship: A Policy Perspective
Industrial Policy and Development

Mike Hobday (Contributor Webpage)

Fernando Perini

Oxford University Press

The conventional view of the entrepreneur as a risk-taking innovator and developer of new technology has been highly influential in modern policies towards entrepreneurship in developing countries (DCs). This chapter challenges such a conventional “Schumpeterian” view and the policies which arise from it, especially those which encourage an increase in small firm entrance as a source of entrepreneurship. In contrast with developed economies, in DCs entrepreneurship should be understood within the context of latecomer catch-up, behind the innovation frontier, and of technology acquisition from abroad. In such circumstances, entrepreneurship is largely embedded in existing enterprises of all sizes as well as the subsidiaries of transnational corporations. Thus, policies aimed at fostering entrepreneurship come together policies targeted at strengthening the domestic industrial structure and the managerial capabilities it embodies.

Keywords:   entrepreneurship, managerial capabilities, domestic industrial structure, developing countries, DCs, small firms

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