A country can limp along for a long time. What's underrated is how much energy that takes. The whole system is spending its capacity just staying upright, with nothing left to move forward. Pakistan must be exhausted.
There's the (now) classic Why the Emperor's New Clothes Are Not Made in Colombia : A Case Study in Latin American and East Asian Manufactured Exports. David Morawetz. Oxford, 1981.
A lot of related development economics literature picks up on your themes. Small (domestic) markets. Education (and status) systems that direct the ambitious to become lawyers or go into finance. Lack of appropriate infrastructure. On and on. Or for the US, stuff by Bill Lazonick on financialization, or the network of people in the Industry Studies Association.
But that sort of stuff isn't central in the most recent vintage of graduate development economics texts (well, I last scanned those ca 2015), they're all about applied micro empirical studies, if you don't have a regression, you don't get published.
Now in my experience many of the really good researchers may turn out empirical work but have accumulated a lot of wisdom along the way. Of course, I label as good someone who exhibits wisdom, others are hacks who apply without reflection standard techniques (more publishable with the latest regression techniques over an exhibition of familiarity with institutions and context).
Indeed, and I love that this could be applied at the firm level! Perhaps I’ll look at that. I suspect older, larger incumbents would prioritize stabilization over transformation. Clayton Christensen’s theory hinted at the explicit costs of this tradeoff, of course, through his theory of disruption!
A country can limp along for a long time. What's underrated is how much energy that takes. The whole system is spending its capacity just staying upright, with nothing left to move forward. Pakistan must be exhausted.
There's the (now) classic Why the Emperor's New Clothes Are Not Made in Colombia : A Case Study in Latin American and East Asian Manufactured Exports. David Morawetz. Oxford, 1981.
A lot of related development economics literature picks up on your themes. Small (domestic) markets. Education (and status) systems that direct the ambitious to become lawyers or go into finance. Lack of appropriate infrastructure. On and on. Or for the US, stuff by Bill Lazonick on financialization, or the network of people in the Industry Studies Association.
But that sort of stuff isn't central in the most recent vintage of graduate development economics texts (well, I last scanned those ca 2015), they're all about applied micro empirical studies, if you don't have a regression, you don't get published.
Now in my experience many of the really good researchers may turn out empirical work but have accumulated a lot of wisdom along the way. Of course, I label as good someone who exhibits wisdom, others are hacks who apply without reflection standard techniques (more publishable with the latest regression techniques over an exhibition of familiarity with institutions and context).
Indeed, and I love that this could be applied at the firm level! Perhaps I’ll look at that. I suspect older, larger incumbents would prioritize stabilization over transformation. Clayton Christensen’s theory hinted at the explicit costs of this tradeoff, of course, through his theory of disruption!