Diffusion of Knowledge in the Korean Industrialization
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With proper empirical model specification, the hypothesis whether the expansion of an existing firm is more important to economic growth (Amsden’s argument) than entrepreneurial activity establishing new firms can be tested. An alternative hypothesis is that the new establishment of brand new firms is a more influential factor in determining the speed of economic growth (Jones and Sakong’s argument). In the latter hypothesis, the creation and diffusion of localized knowledge is assumed to be the main force that makes entrepreneurship proliferate in the developing country and pushes the economy to grow. The localized knowledge that is obtained through ‘learning by doing’ is regarded as an inevitable complement to directly imported knowledge or machinery from advanced countries. Thus, the industrialization is the mastering process of already existing knowledge in developed countries, and the process itself produces localized knowledge for further deepening industrialization.
Abstract
With proper empirical model specification, the hypothesis whether the expansion of an existing firm is more important to economic growth (Amsden’s argument) than entrepreneurial activity establishing new firms can be tested. An alternative hypothesis is that the new establishment of brand new firms is a more influential factor in determining the speed of economic growth (Jones and Sakong’s argument). In the latter hypothesis, the creation and diffusion of localized knowledge is assumed to be the main force that makes entrepreneurship proliferate in the developing country and pushes the economy to grow. The localized knowledge that is obtained through ‘learning by doing’ is regarded as an inevitable complement to directly imported knowledge or machinery from advanced countries. Thus, the industrialization is the mastering process of already existing knowledge in developed countries, and the process itself produces localized knowledge for further deepening industrialization.
참고문헌 (24)
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