Abstract
Economic development is generally understood to reflect an expansion of technological capability. Technological change is path dependent. Technology systems lock in on standards. These factors impose constraints on latecoming developing countries, where agents have to master processes that are compatible with established standards in order to integrate into a global technology system. Their integration, furthermore, tends to happen under a specific socio-economic umbrella, to wit the business, economic, and political power structures of the global north. The constraints on latecomers that path dependence and lock-in suggest in this context impose potential obstacles for an instrumental use of the potential that economic development offers for general human development. An integration into global production structures can result in a perpetuation of disadvantaged positions unless specific, for instance geopolitical, factors counter technological and institutional dynamics. This analysis of economic development processes complements results formulated under dependency theory and financialization frameworks.
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call