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The Japan-born "flying-geese (FG)" theory of growth has recently gained recognition in academia and popularity in the media. Since Kaname Akamatsu introduced his ideas in a very broad fashion in the 1930s, opportunities abound for further elaboration and application to contemporary development issues. This paper reviews some of his key ideas and presents a reformulation from a new evolutionary structuralist perspective. The oft-used, yet vague, concept of "the ladder of economic development" is defined in terms of a "leading-sector" stages model, a la Schumpeter-and what comes next as a new rung is considered. The enabling mechanisms of structural upgrading are explored, and the dynamics and benefits of an FG formation of aligned countries are stressed. Also, a new stages (FG-theoretic) model of balance-of-payments is introduced to discuss the financial issues of "borrowed growth" and "global (G2) imbalances." The dynamics of structural upgrading and interactive growth via trade and investment within a hierarchy of countries is the essence of these reformulated FG models, which make up what is now increasingly shaped and recognized as "new structural economics.
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What is economic theory another name for?
An economic theory is a theory that has to do with the production, distribution and consumption of goods and services.
When was An Economic Theory of Democracy created?
An Economic Theory of Democracy was created in 1957.
When was Journal of Economic Theory created?
Journal of Economic Theory was created in 1969.
What has the author Noboru Inaba written?
Noboru Inaba has written: 'The economic theory of medium and small industries in Japan' -- subject(s): Industries, Size
What is the economic theory of mercantilism?
Mercantilism is an economic theory used by Europe in the late 16th to 18th century that introduced government regulations. It is said to be a brainchild of Adam Smith's book, The Wealth of Nations.
What was the Nazi theory that a country must have room for economic expansion?
The term used was "Lebensraum"
When was Society for the Advancement of Economic Theory created?
Society for the Advancement of Economic Theory was created in 1991.
What can economic theory contribute to managerial economicswilliam j baumol?
what does economic theory contribute to managerial economics
Who is the Minister in Charge of Economic Revitalization for Japan?
Akira Amari is the Minister in Charge of Economic Revitalization for Japan.
Who did Japan's military leaders blame for Japan's economic troubles?
The military leaders of Japan blamed the West, the United States and Britain in particular, for its economic problems. Japan decided that a global economy was the only answer for the economic chaos that enveloped it.
How is Japan's economic's?
Bad
How does economic theory apply in business management?
How does economic theory contribute to managerial decisions?"
