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Firms, Governments and Economic Change: An Entrepreneurial Perspective

Firms, Governments and Economic Change: An Entrepreneurial Perspective

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This topical book interprets firms, governments and economic change from an entrepreneurial perspective. Essentially, it applies the Austrian theory of human agency and evolutionary theories of the firm to explain economic organization, the state and institutional change.

Tony Yu begins by discussing the nature of entrepreneurship and the firm followed by an analysis of the role of entrepreneurship in economic change. He thoroughly analyzes the process of economic development in late industrializers, within an entrepreneurial framework outlined within the book. The author argues that ordinary and extraordinary discovery are associated with routine or imitative entrepreneurship and Schumpetarian entrepreneurship respectively. Using this classification, the author shows how it is the interaction of various types of entrepreneurial activities that transformed East Asian latecomers such as Japan, Taiwan, South Korea, Singapore and Hong Kong from traditional agrarian and fishing economies into international centers of trading, service industries and finance.

Firms, Governments and Economic Change will be of special interest to scholars of industrial economics, entrepreneurship and Asian studies. It will also be of use to governmental organizations responsible for economic development, as the analysis is thoroughly up to date and easy to understand.