Innovation and competition in emerging markets

Yusaf H. Akbar

Chapter 8 in A Research Agenda for Emerging Markets, 2026, pp 105-120 from Edward Elgar Publishing

Abstract: Since the turn of the 21st century, developing countries have become hubs for innovation, driving global economic growth in distinctive ways to the previous century. These countries, ranging from large economies like China and India to smaller states, face similar innovation contexts: institutional and infrastructure challenges and rising incomes and youthful, tech-savvy populations. Innovation in these contexts often involves locally tailored, cost-effective solutions, diverging from traditional models in developed economies. The interplay between economic growth and innovation is multifaceted, with causality running in both directions. This chapter explores how business strategies, disruptive and frugal innovations, and digital leapfrogging shape entrepreneurial activity in developing countries. Drawing on theories such as Schumpeterian shocks, institutional theory, and dynamic capabilities, it emphasizes the distinctive drivers and challenges of innovation in developing countries.

Keywords: Dynamic Capabilities; Entrepreneurship; Innovation Capabilities; Schumpeterian Shock; Industry Disruption; Base of the Pyramid (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035331574
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