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Porter model of economic development at the back of an envelope

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  • Eduardo Pol

Abstract

The Porter model of economic development links the phases of development with national competitiveness. His model lies at the heart of the Global Competitiveness Index. It appears, curiously enough, that there is nowhere in the economics literature a concise explanation of the Porter model of economic development. This paper not only fills this gap but also draws the line of separation between formal economic models and narrative economic models; provides a rigorous presentation of Porter model of economic development; distinguishes between the Porter development path and Porter's law of economic development; strips Porter model to its bare essentials in a single picture; and finally, shows that the Porter model satisfies the condition known as the way the world works (www) constraint.

Suggested Citation

  • Eduardo Pol, 2020. "Porter model of economic development at the back of an envelope," Australian Economic Papers, Wiley Blackwell, vol. 59(2), pages 88-101, June.
    • Handle: RePEc:bla:ausecp:v:59:y:2020:i:2:p:88-101
    DOI: 10.1111/1467-8454.12173
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    References listed on IDEAS

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    1. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-1026, October.
    2. Robert J. Shiller, 2017. "Narrative Economics," American Economic Review, American Economic Association, vol. 107(4), pages 967-1004, April.
    3. Kirman, Alan, 1989. "The Intrinsic Limits of Modern Economic Theory: The Emperor Has No Clothes," Economic Journal, Royal Economic Society, vol. 99(395), pages 126-139, Supplemen.
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    Cited by:

    1. John A. Cotsomitis, 2022. "The Learning Economy Regime," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 687-722, March.

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