The concept of stages of economic development: Past and present Cover Image

Koncepcja etapów rozwoju gospodarczego wczoraj i dziś
The concept of stages of economic development: Past and present

Author(s): Lesław Pietrewicz
Subject(s): Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: growth; economic development; stages of economic development

Summary/Abstract: The theory of stages of economic development was conceived and developed in 1960s. Michael Porter’s seminal book The Competitive Advantage of Nations (1990) was arguably the most advanced contribution to this stream of research. The aim of the paper is to evaluate the validity of the stages of economic deve-lopment concept in view of the current economic conditions and the current level of advancement of economic thought. It is found that Porter’s model of stages of economic development needs to be enhanced and updated. This fi nding, however, does not seem to put into question the usefulness of the very idea of stages of economic development. Rather than that, it suggests the necessity to advance it in further conceptual and empirical studies. Possible contributions might deploy it in the context of sustainability and economic complexity con-cepts

  • Issue Year: 2015
  • Issue No: 3
  • Page Range: 276-293
  • Page Count: 18
  • Language: Polish