This paper proposes that economic development can fruitfully be understood as an evolutionary process, in the sense that it involves the introduction to the economy of many new ways of doing things, a good portion of which fail, with the ones that survive providing the basis for the next round...

This paper aims to put together two strands of economic analysis. One is concerned with technological progress as the key driving force behind economic development. The other is concerned with the role of institutions in shaping economic activity, and with how institutions change in the process...

The existence of profound relationships of some sorts between innovation, industrialization and economic development is now generally acknowledged in both economic history and economic theory. However, the conditions which foster technological learning and its successful incorporation into the...