@techreport{18263b5f73394fbdb24977018017f6d7,
title = "Processes of Strategic Renewal, Competencies, and the Management of Speed",
abstract = "This paper addresses a puzzle: How is it possible that a country that has established a broad, export-oriented industrial base at record speed, remains vulnerable to the vicissitudes of international finance and currency markets? I argue that the Korean model that was tremendously successful for catching-up, has now reached its limits. The analysis centers on the co-evolution of industry structure and firm behavior. The focus is on the role of technological learning for the development of the electronics industry, a main carrier of Korea´s successful late industrialization. It is shown that a heavy reliance on credit and an extremely unbalanced industry structure have given rise to a narrow knowledge base and a sticky pattern of specialization. Catching-up has focused on capacity and international market share expansion for homogeneous, mass-produced products; very little upgrading has occurred into higher-end and rapidly growing market segments for differentiated products and services. Such truncated upgrading is one important reason for Korea´s vulnerability to the financial and currency crisis.",
author = "Volker Mahnke and Aadne, {John Harald}",
year = "1998",
language = "English",
isbn = "8778730589",
series = "DRUID Working Paper",
publisher = "DRUID - Danish Research Unit for Industrial Dynamics",
number = "98-20",
address = "Denmark",
type = "WorkingPaper",
institution = "DRUID - Danish Research Unit for Industrial Dynamics",
}