Technology life cycles and concerted institutional forces: driving sustainable economic and social progress

Bowon Kim

Chapter 15 in Elgar Companion to Technology Life Cycles, 2026, pp 322-350 from Edward Elgar Publishing

Abstract: Understanding sustainable economic and social progress requires an integrated perspective that captures technological evolution and the institutional forces driving and sustaining it. This chapter proposes a new framework linking technology life cycles (TLCs) with the concerted institutional forces model (CIFM). While TLCs describe the natural stages of technology development, i.e., emergence, growth, maturity, and renewal, CIFM explains how institutional, historical, cultural, and geopolitical forces interact systematically and dynamically to support and influence these stages. We integrate these two perspectives and show that it is essential to harmonize technological advancement and institutional coordination in achieving enduring economic and social progress. To elaborate on this integration, we analyze South Korea's economic transformation and review prominent theories. This chapter underlines institutional forces’ balanced and timely interactions driving a country's extraordinary economic development.

Keywords: Concerted institutional forces model; CIFM; Technology life cycle; Korea; Economic development; Technological innovation (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035355488
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