Main Characteristics of Key Catch up Development Models Research Results

Abstract 
 In the modern world the vast majority of the countries are developing. For catch up development of development, especially for increasing GDP per capita, a developing country should apply certain development models that will ensure accelerated economic growth. Such models, successfully implemented by some developing countries, have a number of distinctive features, which are studied in this article. The article analyzes three catch up development models: Japanese, South Korean, and Chinese. For each of these models, its features are specified, then they are compared for all of these models. In the study the time factor, as well as the development of the world economy, especially in the context of the information society, the importance of technical and marketing innovations, international relations are taking into account. The result of the study is the list of distinctive features of effective catch up development models. These features should be common for all catch up development models for latecomers. The list of the distinctive features includes several points. The model of catch up development significantly depends on the time of their jump, it must take into account the current state of world markets and the modern types of competition. The import of  technologies, equipment and qualified personnel will not provide a technological shift, it is necessary for the company from the developing country to become a significant player in the world market in a given industry. Moreover, its business should be highly profitable. Latecomers need  to focus on a few key industries which development is rather clear for inclusion in the process of innovation creating. 
 
Keywords 
latecomers, development model, Japan, South Korea, China, development strategy, investments, innovations 



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