By focusing on the interaction between mobile factors and less mobile factors in the process of globalization, this paper argues that the role of the state becomes more important in some significant respects as the pace of globalization accelerates, contrary to the popular perception that it...

This paper discusses methodological differences between universalism and particularism in development economics by focusing on the 'East Asian Miracle' debate. It proposes to build development economics as part of hetero-economics, not mono-economics, following Max Weber's methodology of social...

This paper argues that the role of the state becomes more important in some significant respects as the pace of globalization accelerates, contrary to the popular perception that it should be diminished. This is mainly because, as mobile factors obtain more freedom to choose locations across...

This paper attempts to explain why institutional changes, whose direction look obvious at the beginning, arouse controversies and, more often than not, face ‘setbacks’. It starts from critically assessing North’s (1981; 1990) analysis of relating transaction cost and economic performance and...

This paper analyzes the sources of first-mover advantages by examining the case of Samsung Electronics, a firm which has maintained and strengthened the technological leadership in the DRAM industry since 1992. The focus is on endogeneity of first-mover advantages under changing technological...