Summary This article proposes that a potentially significant dimension of technological catching-up and the transition to leadership lies in the quality and dynamics of the local market, rather than in the export market demand as traditionally stressed in catch up studies. Based on an...

The creative destruction of existing industries as a consequence of discontinuous technological change is a central theme in the literature on industrial innovation and technological development. Established competence-based and market-based explanations of this phenomenon argue that incumbents...

The Korean Government wishes to transform the nation into a Northeast Asian business hub. Following economic crisis, there are attempts to move the economy towards a new market‐oriented paradigm of economic growth based on foreign direct investment (FDI) and market friendly transparent...