Technological revolutions, international finances and development strategies: a neo-schumpeterian approach
- Authors
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Marcelo Arend
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- Keywords:
- Revoluções tecnológicas, finanças internacionais, estratégias de desenvolvimento
- Abstract
- ABSTRACT The neo-schumpeterian approach claims that the existence of subsequent and distinct technoeconomic paradigms throughout the history of capitalism can be traced back to technical revolutions, since they bring about both the re-organization of production and institutional changes in capitalist economies. Technological revolutions also affect the dynamics of the international finances, once they cause movements such as manias, panic and crashes to arise. Thence, technological revolutions give rise to distinct growth patterns over time, thereby making necessary to establish national original development strategies to catch up on new paradigms. In this article, it is argued that sustained development paths are often achieved provided that countries follow the new technoeconomic paradigms right from the start, by fostering firms powered by both private national and state-owned capital. Catching-up strategies, studded by and strongly attached to the international finance, tend to exaggerate technological dependence and external vulnerability, whereupon shrinking the long-run growth rate. Key words: Catching up strategies; technological change; financial crises. Classificação JEL: O14; O33. Artigo recebido em jan. 2010 e aceito para publicação em jun. 2012.
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- Published
- 2012-11-19
- Issue
- Vol. 33 No. 2 (2012)
- Section
- Artigos
- License
- A remessa dos artigos à revista implica a cessão dos direitos autorais à FEE.