The Co-evolution of Technology and Institutions in the Catch-up Process: The Case of the Semiconductor Industry in Korea and Taiwan

Hye-Ran Hwang and Jae-Yong Choung

Journal of Development Studies, 2014, vol. 50, issue 9, 1240-1260

Abstract: This paper explores the industrial specialisation of latecomer countries, particularly Korea and Taiwan, which are often referred to as successful catch-up cases. The traditional wisdom is that the 'developmental state', resource leverage, and technological sophistication in an export-oriented strategy have been the factors for success. However, firm strategies and a supportive government are not sufficient to explain the different features of catch-up patterns. In this paper we propose that differences in industrial specialisation of catch-up countries are attributable to the interaction between technological characteristics and institutional settings, including corporate organisation, industrial structure, and the role of the public sector.

Date: 2014
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DOI: 10.1080/00220388.2014.895817

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