Neoclassical versus evolutionary economics in developing countries: convergence of policy implications

Sepehr Ghazinoory, Meysam Narimani and Shiva Tatina ()
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Sepehr Ghazinoory: Tarbiat Modares University
Meysam Narimani: Tarbiat Modares University
Shiva Tatina: Tarbiat Modares University

Journal of Evolutionary Economics, 2017, vol. 27, issue 3, No 7, 555-583

Abstract: Abstract This paper aims to determine whether the dichotomy between the science, technology, and innovation policy based on neoclassical and evolutionary schools of economics is applicable to developing countries. Regarding the fundamental differences in foundations of these two economic paradigms, policymakers have been forced to select and to follow one of the two seemingly competing views. However, in developing countries, due to various market and government coordination failures, complying with one of the schools has not been successful in practice. From the past, there has been some controversy between neoclassical and evolutionary schools on the subject of science, technology and innovation policy. Using a survey questionnaire and statistical analyses of the results, this paper shows that, due to the institutional setting and structural conditions in developing countries, despite the fundamentally different foundations of the competing schools of thought, the policy implications of the schools have converged. Drawing on Theme Analysis Method, the rationales are first conceptualized and then the fuzzy method is applied to reveal the respondents’ tendency to the extracted rationales and implications of the two competing schools. In conclusion, the statistical results validate the proposed hypothesis.

Keywords: Technology policy; Evolutionary economics; Neoclassical economics; Policy rationale; Fuzzy method (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s00191-017-0490-z

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