A sustainable pathway for Africa in the twenty-first century is laid out in the setting of the development of innovation capabilities and the capture of latecomer advantages. Africa has missed out on these possibilities in the twentieth century while seeing the East Asian countries advance....

The emergence of a "second wave" of developing-country multinational enterprises (MNEs) in a variety of industries is one of the characterizing features of globalization. This paper documents how emerging markets' MNEs (EM-MNEs) may follow quite different patterns to reach, or at least approach,...

While the evidence accumulates that many countries are fashioning aspects of green development to complement their black, fossil-fueled industries, the case for a wholesale adoption of green development strategies is seldom made. Instead, it is frequently assumed that green development can only...

There is some scepticism about Korea as role model of development as the Korean model involved a considerable degree of state activism, unacceptable in today's global environment. This paper propose a "capability-based view" of the country's catch-up development, arguing that the real lesson...

This paper develops an agent-based model(ABM) to replicate financial instability, such as bubbles and crashes in asset markets, by introducing a simple idea of ‘heterogeneous expectation’ by which agents have different expectations about a ‘tipping point’ where they expect the price to...